Morgan Stanley has filed for approval of a spot Ethereum ETF.

The ETF would track the price of ETH and distribute staking rewards to shareholders.

Yeah — that part matters.

This move says a lot.

Institutional demand for $ETH is clearly growing, and at the same time, regulators are being tested on how comfortable they are with ETFs that include on-chain staking rewards.

If this gets approved, it’s more than just another ETF.

It could set a precedent for how far traditional finance is willing to go into native crypto mechanics.

Quietly bullish… but also a big regulatory experiment 👀

ETH

2,710.07

-3.70%