Solana and Ethereum are testing key technical levels following Morgan Stanley's approval to list two spot cryptocurrency exchange-traded funds on NYSE Arca. The proposed products will trade under the MSOL and MSSE tickers, pending final launch requirements. Both funds intend to stake a portion of their underlying assets and pass most staking rewards on to investors. The approvals come as ETH and SOL attempt to rebound from recent market weakness, and they mark one of the most aggressive crypto product expansions by a major Wall Street bank since spot Bitcoin ETFs launched in early 2024.

Morgan Stanley Obtains NYSE Arca ETF Listing Approval

Morgan Stanley has submitted registration documents for its spot Ethereum and Solana ETFs to the U.S. Securities and Exchange Commission. NYSE Arca has approved both products for listing and trading under the MSSE and MSOL ticker symbols. Once launched, the funds would broaden the roster of U.S.-listed spot crypto ETFs beyond the Bitcoin and Ethereum products that debuted in 2024.

The registration filings became automatically effective under Section 12(b) of the Securities Exchange Act. The funds still require final certification documents, which will establish their official trading dates.

Morgan Stanley Filing

Morgan Stanley Investment Management will serve as the delegated sponsor for both products. The ETFs will each carry a management fee of 0.14%, positioning them among the lower-cost cryptocurrency funds proposed for the U.S. market and below the expense ratios of several existing spot Bitcoin and Ethereum ETFs.

Ethereum and Solana ETFs to Include Staking

The Morgan Stanley Ethereum ETF intends to stake between 50% and 80% of its ETH holdings. Figment, Galaxy Blockchain, and Coinbase Canada are listed as the proposed staking service providers. Staking within U.S. spot crypto ETFs represents a newer structural feature, as the first wave of spot Bitcoin and Ethereum ETFs that launched in 2024 did not incorporate staking into their fund designs.

Service providers and custodians will receive 5% of staking rewards. The remaining rewards will remain with the fund rather than being retained by Morgan Stanley Investment Management, according to the product filings.

Bank of New York Mellon and Coinbase Custody will provide custody services for the Ethereum ETF. The arrangement separates cash custody from digital asset storage while enabling the fund to earn yield on its underlying ETH.

Morgan Stanley's Solana ETF plans to stake up to 100% of its SOL holdings through the same providers. Its reward distribution model will mirror the Ethereum product's structure, with most staking income allocated to the fund.

Staking could allow the ETFs to generate additional returns beyond price movements in ETH and SOL. The structure also provides traditional investors with regulated exposure without requiring them to manage wallets, validators, or private keys.

Ethereum Price Tests $1,950 Resistance

Ethereum trades near $1,860 after its latest recovery attempt stalled around the $1,950 to $2,000 region. The rejection has kept ETH below its 100-day and 200-day moving averages, which continue to constrain the broader recovery.

The four-hour chart reveals a more stable structure, with Ethereum forming higher lows above an ascending trend line. Buyers have defended the area around $1,750, maintaining the short-term upward pattern.

A break above $1,950 could enable ETH to test the $2,000 supply zone. A sustained move beyond that level could open the path toward $2,400, where the previous recovery stalled.

Failure to hold the rising trend line would expose Ethereum to renewed selling pressure. The first support sits near $1,750, followed by lower levels around $1,700 and $1,600.

Solana Price Targets $90 Following ETF Approval

Solana trades near $76 after trend line support halted the latest decline. The token has gained approximately 7% over the past month, though lower trading volume indicates reduced activity following several positive sessions.

The primary resistance sits around $78, a level that previously served as support. A confirmed move above that threshold could strengthen the recovery and allow SOL to target the $90 to $95 range.

SOLUSD 1-Day chart

The 200-day exponential moving average is also positioned within that target zone. Reaching it would require stronger trading volume and sustained buying above the $78 breakout level.

Solana ETF inflows have remained positive in July, with funds attracting close to $12 million during the month. Stablecoin supply on the network has also reached approximately $17 billion, reflecting continued demand for dollar-linked assets.