Rex Shares is set to introduce the first Solana Staking Exchange-Traded Fund (ETF), responding positively to the U.S. Securities and Exchange Commission’s (SEC) feedback, according to analysts.
ETF analyst Eric Balchunas mentioned on X that Rex has submitted a thoroughly completed prospectus, indicating everything is in place for a launch that could happen soon.
SEC Approves Unique ETF Structure
Nate Geraci, President of ETF Store, noted in another post that the SEC seems to be more accepting of the unconventional C-CORP structure utilized by the fund, which they had been inconsistent about under the “ETF rule.” Geraci expressed optimism about the SEC’s willingness to move ahead with this unique approach.
He previously remarked that Rex’s stock had reached a “regulation endpoint” with this method.
Reflecting on these developments, ETF analyst James Seifert stated that Rex’s approach in constructing their Solana staking ETF proposals has influenced the SEC’s decision-making, unlike other crypto ETF providers who often avoid the usual filing process.
SEC Concerns Being Addressed
Geraci commented that it seems the SEC’s concerns have been resolved, adding that “Crypto ETF summer is beginning.”
Balchunas shared a screenshot confirming that Rex’s proposals have satisfactorily addressed previous SEC comments.
“So it seems they are ready to launch, which is quite impressive,” Balchunas added.
Rex announced the impending release of what is being termed the “first ever dangerous Crypto ETF” in the U.S. on the same day.
Industry Anticipation for Crypto ETFs
Rex Shares elaborated that their Solana Staking ETF aims to track the performance of Solana while generating yields through Onchain Staking.
“This marks a new era for crypto exposure and yield generation,” the Rex team stated.
The staking feature is highly awaited among many ETF audiences.
On March 20, Robbie Mitchnick from BlackRock’s Digital Asset Manager referred to their Ether ETF as “a tremendous success,” though he acknowledged it wasn’t flawless without staking.
