Morgan Stanley has updated its SEC bid for Ethereum- and Solana-based exchange-traded funds (ETFs), setting a record-low commission of 0.14%. This is the most profitable measure in the US market, allowing it to bypass offers from competitors such as Grayscale and Franklin Templeton. Funds will be traded under MSSE and MSOL tickers, but the exact dates of their launch are not yet known.

To generate additional income, new ETFs will use steakhouses. The bank has selected Coinbase, Figment and Galaxy Blockchain Infrastructure as its service providers. According to the documents, providers and Kastodians will receive 5% of all profits derived from asset steking.

This is not the bank’s first step toward a crypto ETF: in April, Morgan Stanley already launched a bitcoin fund, MSBT, with a similarly low commission of 0.14%, which has attracted more than $300 million in investments. In addition, in May, the bank introduced cryptocurrency trading on its E*Trade platform, also offering customers a lower commission than leading exchanges like Coinbase and Robinhood.