Morgan Stanley Updates Solana ETF Prospectus as Inflows Turn Higher
Morgan Stanley has filed an amended prospectus for a proposed spot Solana exchange-traded fund, a step that coincided with a fresh uptick in inflows to Solana ETF products this week.
Spot Solana ETFs drew $3.78 million of net inflows on Tuesday after taking in $2.06 million on Monday, according to SoSoValue. SOL changed hands around $85 on Wednesday, still trading below key near-term resistance levels.
Morgan Stanley’s revised filing covers the Morgan Stanley Solana Trust, an ETF expected to list on NYSE Arca under the ticker MSOL. The trust is designed to hold SOL directly and track the token’s U.S. dollar performance after fees and liabilities.
The amended prospectus also introduces staking. Morgan Stanley said the trust may stake a portion of its SOL through third-party providers, with staking rewards reflected in net asset value. Provider selection would be evaluated using criteria including performance, reliability, reputation, uptime, and slashing history. The filing adds that staking rewards may be distributed at least quarterly when required under current IRS guidance.
The prospectus frames the vehicle as passive. It states the fund will not employ leverage, derivatives, or similar structures to pursue its objective, aiming instead to give investors direct SOL exposure through a traditional brokerage account without requiring wallet management, private keys, or on-chain transfers.
Flows improved even as price action stayed cautious. On the charts, SOL was near $84 on Wednesday, below the 23.6% Fibonacci retracement level around $86.67 and the 50-day exponential moving average at $87.64—an initial resistance zone. A broader rebound would require a move above the 100-day EMA near $92.96, with analysts also watching the $97.89 to $98.53 area as the next major resistance band. Until those levels are reclaimed, rallies may continue to face selling pressure.
Derivatives indicators showed modest signs of stabilization. Funding rates for Solana turned positive on Tuesday and rose to 0.0063% on Wednesday, based on Coinglass data referenced in the update, indicating longs are paying shorts. The long-to-short ratio recovered to 0.99 on Wednesday after dropping to its lowest level in more than a month on Sunday; a move above 1 would imply more traders positioned for gains than declines. CryptoQuant summary data pointed to neutral to mildly positive conditions across spot and futures markets, suggesting the market has cooled after the recent bout of selling without yet confirming a full reversal.
From a technical perspective, SOL remains in a corrective phase while it trades below short- and medium-term moving averages. The token rebounded to about $85.65 after holding above the $84 support area. The RSI climbed to 47.58 and the MACD histogram turned positive at 0.283, signaling improving momentum, with the MACD line approaching a potential bullish crossover that could support a move toward $90 if volume strengthens.
Support was cited near $77.71, with deeper downside support around $67.50. If SOL fails to reclaim the $86.67 and $87.64 resistance levels, sellers may retain control of the near-term structure.
Morgan Stanley’s updated MSOL filing adds a renewed institutional angle to the Solana narrative, but the market still needs stronger follow-through in spot demand to validate a breakout above resistance.
