Morgan Stanley has resubmitted an amended registration statement for a spot Solana (SOL) exchange-traded fund, proposing the ticker MSOL. The filing, made with the U.S. Securities and Exchange Commission (SEC), marks a significant expansion of the bank's crypto ETF offerings, which already include its recently launched spot Bitcoin ETF (MSBT).
The revised S-1 prospectus details that the Morgan Stanley Solana Trust will hold SOL directly in custody with regulated third-party custodians. Crucially, the trust intends to stake a portion of its assets through selected third-party providers, with staking rewards reflected in the fund's net asset value. The filing states that staking providers will be chosen based on “performance, reliability, and reputation,” including “uptime and slashing history.” This structure aims to offer investors exposure to SOL's price performance plus staking yields, without the need for direct token handling.
The prospectus emphasizes that the trust is a passive investment vehicle, explicitly stating it “will not utilize leverage, derivatives or any similar arrangements.” It also notes that staking rewards may be distributed at least quarterly as required under current IRS guidance. According to the filing, as of December 20, 2025, SOL held a total market capitalization of approximately $70.54 billion, ranking as the seventh-largest digital asset by market cap.
The move follows Morgan Stanley's broader embrace of crypto investment products. The bank's spot Bitcoin ETF, MSBT, began trading on NYSE Arca on April 8 with a 0.14% management fee, entering a competitive market where BlackRock’s IBIT and Fidelity’s FBTC had already drawn over $74.3 billion in net inflows. The Solana filing, reported by Bloomberg ETF analyst James Seyffart, omitted details on management fees or other operational expenses, suggesting those may come in later amendments.
While the SEC has not yet approved any spot Solana ETF, the application from a major global financial institution signals sustained institutional confidence. At the time of reporting, SOL traded at $84.91, Bitcoin at $77,450, and Ethereum at $2,130.03.
