Morgan Stanley amends Ether and Solana ETF applications

Morgan Stanley has filed amendments to its Ether and Solana exchange-traded fund applications, updating both filings with the SEC as the crypto ETF pipeline continues to expand beyond Bitcoin.

What Morgan Stanley changed in its Ether and Solana ETF filings

The investment bank submitted updated filings to the U.S. Securities and Exchange Commission covering both an Ethereum-based and a Solana-based ETF product. The amendments modify the original applications rather than introducing entirely new fund proposals.

An amendment in the ETF filing process typically signals that the issuer is responding to SEC staff feedback or refining the fund’s structure to improve the likelihood of approval. It is a routine but meaningful step that shows active dialogue between the applicant and regulators.

According to reporting from Crypto.News, the amendments add a staking incentive component to both ETF structures. Staking has been a contentious element in crypto ETF proposals, as regulators have previously raised questions about whether staking yields classify fund products differently under securities law.

The amendments were also covered by The Block, which noted Morgan Stanley’s simultaneous updates to both the Ether and Solana filings. Filing updates for both assets at once suggests the bank is pursuing a coordinated multi-asset ETF strategy.

Why the amendments matter for the crypto ETF review process

Amended filings sit between an initial application and a final SEC decision. They indicate that the issuer is actively working through the review process, but they carry no guarantee of approval.

The inclusion of staking mechanics is notable because previous Ether ETF proposals in the U.S. stripped out staking to avoid regulatory complications. Morgan Stanley’s decision to add staking incentives rather than remove them could reflect a shift in how issuers gauge SEC receptiveness to yield-generating fund features.

For Solana, the filing is significant in its own right. While SOL has attracted major whale activity and growing institutional attention, a Solana spot ETF remains further behind in the U.S. approval pipeline than Ethereum products. The fact that Morgan Stanley is amending rather than withdrawing the Solana application signals continued confidence in that asset’s ETF viability.

Ether and Solana face different levels of regulatory scrutiny. Ethereum benefits from the precedent set by existing spot Ether ETFs already trading in the U.S., while Solana has not yet cleared the same classification hurdles.

What to watch next for Ether and Solana ETF applications

The SEC typically operates on defined review timelines once an application is formally accepted, with multiple windows to approve, deny, or extend its review. Amendments can reset portions of that clock, so the original decision deadlines may no longer apply.

The staking component will likely draw the most scrutiny in both filings. If the SEC signals comfort with staking in an ETF wrapper, it could open the door for other issuers to reintroduce yield features into their own proposals.

Ether and Solana may ultimately face different outcomes despite appearing in the same set of amendments. Ethereum’s established regulatory track record gives it a clearer path, while Solana’s classification status remains less settled.

Investors tracking the broader crypto ETF landscape, including developments around Bitcoin’s growing role in institutional and sovereign strategies, should watch for further amended filings or formal SEC comment letters as the next procedural milestones.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.