- REX Shares prepares to launch the first U.S. exchange-traded fund (ETF) featuring Solana staking.
- The SEC has shown approval for the fund’s unique C-corp structure, clearing the way for an imminent launch.
- The fund, called the REX-Osprey SOL and staking ETF, will track Solana while enabling on-chain staking to generate yield.
- This ETF bypasses the traditional 19b-4 process, making it an uncommon move within the crypto ETF sector.
- Industry analysts say all regulatory requirements have been addressed and that staking in ETFs has been highly anticipated.
REX Shares is set to debut the first U.S.-based Solana staking exchange-traded fund, after gaining support from the U.S. Securities and Exchange Commission (SEC). The ETF will allow investors to track the value move of Solana and earn returns through the network’s staking process, which means locking up crypto to support blockchain operations while getting rewards in return.
The company updated its prospectus after receiving regulatory feedback, leading analysts to expect that the initial launch is imminent. ETF analyst Eric Balchunas stated in a post on X that, "it appears as though all systems go for imminent launch."
According to Nate Geraci, president of ETF Store, the SEC has grown comfortable with this ETF’s rare C-corp structure. In a post, he explained that while the SEC previously found the fund’s legal setup at odds with the so-called 6C-11 “ETF rule,” now, “they’re comfortable pushing forward w/ their creative ‘40 Act structure.” Analyst James Seyffart noted the structure bypassed the usual 19b-4 procedure required for most crypto ETF proposals, which remain pending.
The ETF seeks to provide exposure to Solana performance with extra yield from on-chain staking, which has been a key wish for many cryptocurrency ETF watchers. In its recent update, REX Shares stated on X that this will be the first staked crypto ETF in the U.S., highlighting that, “A new era of yield-generating crypto exposure is here.”
Staking, which involves participating in network security in exchange for rewards, is a popular method to generate Passive income in cryptocurrencies. BlackRock’s head of digital assets, Robbie Mitchnick, earlier called their own Ether ETF a “tremendous success,” but commented it is “less perfect” without staking options.
REX Shares has also emphasized that the REX-Osprey SOL and staking ETF will soon be available for investors, aiming to introduce yield-generating features that many have sought in the digital asset market. For more, refer to the official announcement on X.
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