Morgan Stanley's Solana ETF (MSOL) and Ethereum ETF (MSSE) had their Form 8-A share registrations go auto-effective on NYSE Arca on July 24, 2026, under Section 12(b) of the Securities Exchange Act of 1934. Both funds are now registered on the exchange; trading will not begin until Morgan Stanley submits the CERT certification filing that sets an official start date.
The auto-effective event arrived roughly a week after Morgan Stanley filed its third amendment to the underlying S-1 registration statements, adding updated custodial arrangements and staking provider disclosures. Bloomberg ETF analyst James Seyffart said at that stage the launch was "likely getting pretty close."
MSOL Staking Structure: Up to 100% of SOL Holdings
The MSOL prospectus targets staking up to 100% of the fund's SOL holdings, routed through three delegated providers: Figment, Galaxy Digital, and Coinbase Canada. Custody is split between BNY Mellon as primary custodian and Coinbase cbBTC$80,465.15+3.0% Custody as secondary. Morgan Stanley Investment Management retains no staking income; the delegated sponsor structure passes rewards to investors.
The staking providers and custodians collectively receive 5% of gross staking rewards; the remaining 95% flows to the fund. Distributions are made monthly, with a minimum quarterly cadence. MSOL tracks the CoinDesk Solana Benchmark 4PM NY Settlement Rate and supports both cash and in-kind creations and redemptions. Staking participation is subject to a determination that no "excessive legal, regulatory, or tax risks" exist, a qualifier that Morgan Stanley included in the S-1 filing.
MSSE vs MSOL: How the Two Funds Compare
Both funds carry a 0.14% annual sponsor fee, placing them among the lower-cost U.S. spot crypto ETF offerings, and share the same custodians and staking provider network. Where they diverge is the staking target. MSSE, the Ethereum fund, aims to stake 50–80% of its WETH holdings, a range that reflects Ethereum's staking withdrawal queue dynamics at scale. MSOL's 100% figure is feasible because Solana's staking withdrawal mechanics impose fewer operational constraints on large funds.
The fee, custody, and provider structures are otherwise identical across both products.
What Comes Next Before MSOL and MSSE Begin Trading
The Form 8-A is the Exchange Act mechanism that registers shares for listing on a national securities exchange. Auto-effective means NYSE Arca has formally accepted the registration; shares cannot trade until Morgan Stanley files the CERT document, a shorter certification that locks in the actual trading start date. No CERT timeline has been disclosed.
Both funds would be Morgan Stanley's first directly managed spot crypto ETF products. The firm's E*TRADE from Morgan Stanley launched spot SOL trading in July 2026, a retail-focused offering through custody partner Zero Hash. MSOL and MSSE are structured for the adviser and institutional segment that uses registered fund wrappers rather than direct custody.
