REX Shares' Solana ETF Set to Launch in US This Week

REX Shares' Solana ETF is on the verge of commencing trading in the United States, potentially as early as this week. This development follows the company's latest filing with the U.S. Securities and Exchange Commission (SEC), which indicates that all necessary regulatory hurdles have been addressed and the ETF is ready to go live. 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.

One of the key aspects of this ETF is its unconventional corporate structure, 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. According to Nate Geraci, president of ETF Store, this approach is a “regulatory end-around” that avoids the ETF rule’s restrictions on direct staking strategies. James Seyffart, a senior ETF analyst, echoed Geraci's sentiments, noting that this 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, REX Shares confirmed the product is “coming soon,” calling it the “first-ever staked crypto ETF” in the U.S. The firm further stated that “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.