Morgan Stanley moved a step closer to launching spot Ethereum and Solana ETFs after filing another amendment with the SEC on Tuesday, a routine but closely watched update that a Bloomberg ETF analyst said suggests the products could debut soon. While the filing largely refreshed market data and confirmed previously disclosed terms, it also ended one lighthearted debate: the firm's Ethereum ETF will trade under MSSE, not the internet-favorite ticker METH.
Bloomberg ETF analyst James Seyffart flagged the filings, noting that Morgan Stanley had "filed updated documents for both their Ethereum ETF and their Solana ETF," with tickers $MSSE and $MSOL and fees of 0.14% for each. "Launch likely getting pretty close," Seyffart wrote.
The ‘METH’ Ticker Joke
Tuesday's filing also revived a running joke among ETF watchers.
Back in May, when Morgan Stanley filed an Seyffart had written that "Here is my unsolicited suggestion to @MorganStanley. Make $METH your Ethereum ETF ticker." The investment bank, however, went a different direction, and $MSSE remained the confirmed ticker in Tuesday's filing.
Ethereum ETF Includes Staking Feature
The updated filing from Tuesday confirmed the fund's ticker and fee, terms already set in the previous amendment filed in June.
The trust intended to stake between 50% and 80% of its ETH holdings through third-party providers Figment Inc., Galaxy (GLXY) Blockchain Infrastructure, and Coinbase (COIN) Canada, with rewards distributed to shareholders monthly, or at least quarterly.
It also included a 5% net fee, shared between the staking providers and the fund's custodians. BNY Mellon (BNY) and Coinbase Custody Trust Company were named as custodians for Ethereum.
Latest Filing Updates Market Data
Unlike the June filing, which introduced the Ethereum Trust's structural terms, Tuesday's Amendment No. 3 made no changes to either fund's ticker, fee, or staking mechanics.
It instead refreshed several time-sensitive figures embedded in the Ethereum Trust's prospectus. ETH’s total market capitalization was cited at roughly $217.17 billion as of July 6, down from around $258 billion cited in the prior filing in May. The Ethereum network's validator activation queue also shortened.
Additionally, Morgan Stanley's spot Bitcoin ETF (MSBT) in April as the lowest-fee Bitcoin product in the US market.
was up 0.49% in pre-market trading. On Stocktwits, the retail sentiment around MSBT moved to ‘bullish’ from the ‘neutral’ zone, while chatter around it stayed at ‘low’ levels over the past day.