REX Shares Set to Launch First Solana Staking ETF

NEW YORK, NY — REX Shares is preparing to launch the first-ever Solana staking exchange-traded fund (ETF) after receiving positive feedback from the US Securities and Exchange Commission (SEC). ETF analysts say the product could launch any day now, following the firm’s recent filing update.

ETF analyst Eric Balchunas shared on social media that REX had responded satisfactorily to SEC comments. “Rex also filed an updated prospectus, which totally filled in. Add it all up, and it appears as though all systems go for imminent launch,” he wrote on X.

Nate Geraci, president of the ETF Store, echoed this sentiment, stating that the SEC appears to be open to REX Shares’ unique structure, which bypasses some traditional regulatory steps. He described the situation as feeling like a “creative end-around.”

James Seyffart, another ETF analyst, acknowledged that REX’s Solana staking proposal is “very rare” in the ETF world. It does not follow the standard 19b-4 filing process that most crypto ETF proposals face, which are still waiting for SEC decisions.

In a press release, REX Shares stated that its REX-Osprey SOL ETF aims to track the performance of Solana while generating yield through on-chain staking. The firm referred to this as a breakthrough for investors seeking ways to benefit from digital assets without directly handling cryptocurrencies.

The ETF’s structure utilizes a c-corporation model, a notable departure from most crypto ETFs that typically require 19b-4 submissions. This creative approach aims to meet regulatory requirements while offering staking rewards to investors.

Geraci shared excitement about the upcoming launch, saying, “Looks like they believe comments have been resolved.” Balchunas also confirmed the findings, saying, “So they are good to launch; it looks like. Wow.”

If approved, the Solana staking ETF could attract a variety of investors. Industry experts expect that it may lead to increased adoption of Solana as it offers a regulated pathway for those hesitant to invest directly in cryptocurrencies.

With the SEC hinting at approval, the ETF’s launch will be closely monitored by both investors and industry watchers. “Crypto ETF summer commences,” Balchunas suggested, pointing to a potential wave of similar products in the future.