Solana and Ethereum have edged toward critical price levels following Morgan Stanley’s green light to launch two spot crypto ETFs on the NYSE Arca. The upcoming funds, set to trade under tickers MSOL for Solana and MSSE for Ethereum, still need final clearance before officially hitting the market.
According to Morgan Stanley investment management, the funds will stand out with management fees of just 0.14%, placing them among the more affordable crypto ETFs in the U.S. market. What's more, both products include plans to stake a portion of their underlying assets, with most staking rewards distributed right back to investors.
The Ethereum ETF aims to stake between 50% and 80% of its holdings, collaborating with firms like Figment, Galaxy Blockchain, and Coinbase Canada. Meanwhile, the Solana fund plans to stake up to 100% of its tokens. Staking rewards are shared: service providers receive 5%, while the rest remains in the fund to benefit shareholders. For custody, cash and digital assets will be handled separately by the Bank of New York Mellon and Coinbase Custody.
On the price front, Ethereum is hovering near $1,860 after facing resistance close to the $1,950 to $2,000 range. This keeps ETH below key 100-day and 200-day moving averages, key technical indicators that have capped its rally in recent weeks. Still, the coin’s four-hour chart signals buyers holding firm around $1,750, defending a short-term ascending trend.
Breaking above $1,950 could open the door for Ethereum to challenge the $2,000 zone and potentially climb toward $2,400, which was the ceiling during its previous recovery attempts. Solana’s price action is also rallying alongside Ethereum’s momentum, bolstered by the ETF news and the prospect of staking returns.
