Investors Earn Full Ethereum Staking Rewards via REX-Osprey’s Pioneering ETF
REX-Osprey™ has launched the first U.S. EthereumETH-- staking ETF, the REX-Osprey™ ETHETH-- + Staking ETF (ticker: ESK), on the Cboe BZX Exchange. The fund, structured under the 1940 Act, provides investors with exposure to spot Ethereum (ETH) while distributing monthly staking rewards[1]. ESK combines directly staked ETH with other exchange-traded products holding and staking ETH, ensuring all staking rewards are passed directly to investors without retention by REX or Osprey[1]. This marks a significant development in institutional adoption of crypto-staking products within traditional finance[2].
The ETF builds on REX-Osprey’s prior success with the SolanaSOL-- Staking ETF (SSK), launched in July 2025. SSK, the first U.S. Solana ETF with staking rewards, has attracted over $300 million in assets and transitioned to a Regulated Investment Company (RIC) structure to enhance tax efficiency[1]. ESK’s launch follows a regulatory landscape where major players like BlackRock and Fidelity await SEC approval to add staking to their Ethereum ETFs[8]. REX-Osprey’s approach, leveraging the 1940 Act framework, bypasses the traditional SEC 19b-4 approval process, enabling faster market entry.
ESK’s structure emphasizes transparency and accessibility. Unlike private staking agreements, the fund does not retain a share of staking rewards, aligning investor returns directly with Ethereum’s proof-of-stake network[3]. Greg King, CEO of REX Financial, highlighted that ESK “delivers Ethereum exposure and staking rewards in the most broad-based U.S. ETF format,” underscoring the firm’s focus on integrating crypto innovation with traditional finance[1]. The fund’s assets are concentrated in the Ethereum ecosystem, exposing investors to risks tied to market volatility, regulatory shifts, and operational challenges inherent to blockchain technology[1].
Market dynamics for Ethereum ETFs have shown mixed trends. While spot Ethereum ETFs have accumulated $27.42 billion in assets, net inflows slowed to $110 million in September 2025, compared to $3.8 billion in August[3]. This context positions ESK as a potential catalyst for renewed investor interest by offering yield generation through staking. The SEC’s evolving stance on crypto staking, including recent filings by Cboe BZX Exchange for 21Shares’ Ethereum staking ETF, signals a regulatory shift toward accommodating staking mechanisms[4].
Despite its innovations, ESK carries significant risks. The fund is non-diversified and concentrated in the crypto sector, exposing it to heightened volatility from market, liquidity, and regulatory uncertainties[1]. Staking itself introduces operational risks, including validator failures, smart contract vulnerabilities, and potential slashing penalties if staked assets are compromised[7]. Additionally, the fund’s reliance on custodians for private key management exposes it to cybersecurity threats[1]. Investors are advised to carefully evaluate these risks before committing capital.
REX-Osprey’s strategy extends beyond Ethereum, with plans to launch a BNB Staking ETF and a Dogecoin ETF, reflecting broader ambitions to expand crypto-accessible investment vehicles[6]. The firm’s approach underscores a growing trend of institutional players leveraging ETF structures to democratize access to crypto yields while navigating regulatory complexities[8].
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