Galaxy has been selected as one of three approved validators for Morgan Stanley Investment Management’s Morgan Stanley Ethereum Trust and Morgan Stanley Solana Trust, listed on NYSE Arca as MSSE and MSOL. The products aim to track ETH and SOL while staking part of their holdings and passing staking rewards to shareholders through regular distributions, pushing listed crypto funds beyond passive token exposure. Morgan Stanley and Galaxy have not disclosed how much of each trust will be staked, how the mandates will be split, expected reward rates, or fees. The structure adds operational risk tied to validator uptime, withdrawal mechanics, network rules and possible penalties, while extending Galaxy’s institutional validator business, which reported $2.8 billion in staked assets at the end of the second quarter of 2026.