Here are the 424B prospectus supplements from Morgan Stanley Ethereum Trust (MSSE) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow MSSE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MSSE filings page.
Morgan Stanley Ethereum Trust (MSSE) is a Delaware statutory trust structured as an exchange-traded fund whose Shares are expected to list on NYSE Arca. It seeks to track the price of ether, using the CoinDesk Ether Benchmark 4PM NY Settlement Rate, adjusted for expenses and liabilities, and to reflect rewards from staking a portion of its ether holdings.
The Trust will hold ether in custody at The Bank of New York Mellon and Coinbase Custody and, under normal market conditions, the Delegated Sponsor intends to stake roughly 50–80% of the Trust’s ether through third-party staking service providers. Staking rewards, net of a 5% fee to custodians and staking providers, accrete to NAV and are intended to be distributed in cash to shareholders monthly (but at least quarterly). The Trust charges a unitary 0.14% annual Delegated Sponsor Fee on NAV, and is not registered under the Investment Company Act of 1940 or regulated as a commodity pool.
The offering registers an indeterminate amount of Shares for continuous issuance. Separately, the Delegated Sponsor expects to purchase Initial Seed Creation Baskets of 50,000 Shares for anticipated proceeds of $1 million, which the Trust will use to acquire ether; the Trust will not receive proceeds from any later resale of those seed Shares.