Solana ETF Imminent Launch
Solana ETF Nears Launch After SEC Feedback
The cryptocurrency investment landscape is poised for a significant shift. REX Shares is on the brink of launching the first-ever Solana staking exchange-traded fund (ETF), following what analysts describe as a successful resolution of concerns raised by the U.S. Securities and Exchange Commission (SEC).
Multiple ETF analysts have voiced optimism regarding the impending launch. Eric Balchunas, an ETF analyst, stated on X (formerly Twitter) that "all systems go for imminent launch," citing a recently filed updated prospectus and positive SEC feedback. Nate Geraci, president of ETF Store, added that the SEC appears "comfortable" with REX Shares' unique corporate structure, a key factor in previous regulatory delays.
SEC Approves Novel ETF Structure
The SEC's apparent acceptance of REX Shares' innovative corporate structure is a crucial development. This structure, previously flagged by the SEC as potentially conflicting with existing ETF regulations, has now seemingly cleared the regulatory hurdle. This rare approach circumvents the standard 19b-4 filing process used by many other ETF providers, some of which are still awaiting SEC approval for similar staking products. Analyst James Seyffart highlighted the uniqueness of this approach within the ETF industry.
Addressing SEC Comments
According to Geraci, the SEC's comments on the original filing have been addressed to their satisfaction. This positive response, supported by Balchunas who shared a relevant email screenshot, suggests the path is clear for an immediate launch. REX Shares themselves confirmed via X that the first-ever staked crypto ETF in the US is coming soon.
Staking: A Game Changer for Crypto ETFs
The inclusion of staking functionality is a highly anticipated development in the ETF market. This feature, allowing investors to generate yield through on-chain staking of SOL, adds a new dimension to crypto ETF investment. Previously, BlackRock's head of digital assets, Robbie Mitchnick, recognized that while their Ether ETF was successful, the lack of staking was a notable omission.
The REX-Osprey SOL and staking ETF is designed to track the performance of Solana while simultaneously providing yield through on-chain staking. This development marks what REX Shares describes as "a new era of yield-generating crypto exposure."
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