Figment, the largest non-custodial institutional staking provider, has been selected by Morgan Stanley Investment Management as a staking provider for Morgan Stanley Ethereum Trust and Morgan Stanley Solana Trust, which began trading on NYSE Arca. The funds are the first spot Ether and SOL ETPs from a major US bank-affiliated asset manager to include staking from day one.
Both funds integrate staking at launch, with an anticipated 95% of staking rewards passing through to shareholders. MSSE generally intends to stake 50% to 80% of its ETH holdings and up to 100% of its SOL holdings, though these amounts can vary. The launches reflect two years of regulatory advances since spot Ether ETPs first came to market in July 2024 without staking, with SEC staff guidance and updated exchange listing standards opening the path through 2025.
For institutional investors, the funds address the operational barriers to staking directly, providing Ether and SOL exposure and staking participation through exchange-listed vehicles that can be held in standard brokerage accounts, without requiring shareholders to manage keys, run validators, or handle onchain reward accounting.
Figment is a genesis validator on both the Ethereum and Solana networks and supported staking in exchange-traded products internationally before it was permitted in the US. The company operates under Full NORS Certification for Ethereum, SOC 2 Type II, and ISO 27001, with slashing protection behind client assets. Figment provides staking infrastructure for more than 1,500 institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders.
KEY QUOTES:
“MSSE and MSOL extend what we started with MSBT to the two largest Proof-of-Stake networks, with staking integrated from day one. Our clients want access to these markets through structures they already understand, and these funds are expected to pass 95% of staking rewards through to shareholders.”
Ally Wallace, Global Head of ETFs, Morgan Stanley Investment Management
“Our job underneath is simple to describe and hard to do well: run the validators, manage the risk, report accurately, the way we have for our institutional client base across the globe.”
Josh Deems, Head of Revenue, Figment
