Morgan Stanley (NYSE:MS) on Tuesday filed for an Ethereum (CRYPTO: ETH) Trust with the SEC, marking the bank’s third crypto ETF filing in 48 hours after registering Bitcoin (CRYPTO: BTC) and Solana (CRYPTO: SOL) trusts earlier this week.
Ethereum Trust Will Stake ETH For Yield
The Morgan Stanley Ethereum Trust will be a passive investment vehicle sponsored by Morgan Stanley Investment Management, holding ether directly and valuing shares daily based on a pricing benchmark derived from major trading venues, Decrypt reported.
The trust intends to stake a portion of its ETH holdings and distribute rewards to shareholders at least quarterly, subject to IRS guidance.
This structure allows investors …