REX Shares’ Solana ETF on the brink of trading launch as SEC readies greenlight
REX Shares spot Solana staking exchange-traded fund (ETF) is poised to become the first SOL ETF to begin trading in the United States, potentially as early as this week.
Bloomberg senior ETF analyst Eric Balchunas said on June 28 that the company’s latest filing with the U.S. Securities and Exchange Commission (SEC) indicates it is ready to go live.
He wrote:
“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.”
Additionally, he shared a screenshot of an internal email suggesting the SEC’s comments have been addressed. He said:
“So they are good to launch, it looks like. Wow.”
The proposed ETF, known as the REX-Osprey Solana staking ETF, is designed to track Solana’s market performance while generating additional yield through onchain staking rewards.
If approved, it would allow traditional investors to gain exposure to staking income without directly holding or managing digital assets themselves.
ETF Store president Nate Geraci highlighted that REX Shares used an unconventional corporate structure for the fund, a C-corporation under the Investment Company Act of 1940, commonly known as the “40 Act structure.”
This design sidesteps regulatory hurdles that have stalled other crypto staking ETF proposals under the standard 19b-4 filing process.
He wrote:
“Looks like [the SEC is] comfortable pushing forward with their creative ‘40 Act structure.”
Geraci previously called this approach a “regulatory end-around” that avoids the ETF rule’s restrictions on direct staking strategies.
Bloomberg senior ETF analyst James Seyffart echoed Geraci, noting that the structure is “very rare in the ETF world,” giving REX Shares an edge as other providers continue waiting for SEC decisions on similar products.
In a statement on Friday, REX Shares confirmed the product is “coming soon,” calling it the “first-ever staked crypto ETF” in the U.S.
The firm further stated:
“A new era of yield-generating crypto exposure is here.”
Staking ETFs have been widely anticipated as the next frontier in crypto investment products. In March, BlackRock’s head of digital assets, Robbie Mitchnick, described the firm’s Ethereum ETF as a “tremendous success” but acknowledged it was “less perfect” without staking.
The SEC has not yet issued a formal announcement or launch date for the REX-Osprey Solana staking ETF.
The post REX Shares’ Solana ETF on the brink of trading launch as SEC readies greenlight appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Deutsche Bank: The "fifth wave of tech stock rally" in US stocks since late July has peaked, prepare for a "V-shaped reversal"
Deutsche Bank has downgraded its rating on US technology stocks from overweight to neutral, noting that the fifth round of tech stock rally since July 29 is approaching the upper boundary of the long-term trend channel. The current upside potential is only about 4 percentage points, while historical trends indicate downside risks could reach 16 percentage points. Funds are expected to rotate into other sectors, and the European market, with its lower tech exposure, is likely to benefit relatively. However, Deutsche Bank emphasized that the long-term outperformance trend of technology stocks remains unchanged.
How expensive is AI computing power rental in the US? "Spot price" is twice that of long-term contracts, and four times the return threshold for cloud service providers.
The short-term spot leasing price for AI computing power reaches as high as $40 to $50 billion per gigawatt per year, while the price for long-term contracts is only $20 billion per year, and the breakeven threshold for supercomputing cloud operators is around $12 billion per year. However, according to Goldman Sachs, the fundamental reason why hyperscale cloud providers like Google rent computing power at such significant premiums is that their in-house capacity cannot keep up; once their own capacity catches up, the spot premium will disappear.
‘More bullish on Bitcoin’ – Strategy leads 91% of corporate BTC buying
Crypto prices
More
