The U.S. Securities and Exchange Commission appears ready to approve the first Solana staking exchange traded fund after REX Shares finalized a novel structure that satisfies regulatory requirements.
Key Takeaways
- 1REX Shares is set to launch the first U.S. staking ETF tied to Solana.
- 2It features a rare corporation structure that bypasses standard filings.
- 3Analysts say the SEC is satisfied with updates and prospectus.
- 4The fund brings yield generating crypto exposure to mainstream investors.
REX Shares is preparing to launch what could be a turning point for crypto in traditional finance. By delivering a U.S. ETF that not only tracks the performance of Solana but also offers staking rewards, they may redefine how investors access yield from digital assets.
A Breakthrough Fund Structure
REX Shares designed its ETF using a c corporation structure, a departure from typical crypto ETF models that rely on the 19b‑4 registration form. Crafting around that filing process is rare and represents a strategic regulatory workaround. While the SEC previously questioned this structure, analysts and ETF Store president Nate Geraci say the regulator today shows a stronger level of comfort dealing with it.
Eric Balchunas, a well known ETF analyst, noted that REX has filed an updated prospectus fully addressing SEC feedback. He said the filing is “totally filled in” and suggests they are ready to launch at any moment.
SEC Feedback Addressed
Analysts echo that the SEC’s prior comments have been resolved. Geraci said publicly that “it looks like they believe comments have been resolved” on X. Balchunas reinforced the message, stating “so they are good to launch it looks like. Wow.”
Their consensus is that REX’s approach acts as a kind of regulatory end around traditional crypto ETF approval methods. By properly satisfying the SEC’s demands, the fund may now go forward without further major obstacles.
What the Launch Means for Investors
REX Shares confirmed that the product would be the “first ever staked crypto ETF” in the U.S., bringing two key benefits:
- On chain staking yield from Solana, a feature missing in existing crypto ETFs.
- Traditional ETF access, available via brokerage accounts and retirement plans.
This will likely appeal to investors seeking yield generating crypto strategies without needing to self custody coins or manage staking operations. Industry participants have long argued that crypto ETFs without staking feel “less perfect,” making REX’s entry timely and important.
BlackRock’s head of digital assets Robbie Mitchnick previously noted that while the firm’s Ether ETF has been a “tremendous success” it remains “less perfect without staking.” REX’s fund may bridge that gap.
New Era for Crypto in Traditional Finance
If launched, this Solana staking ETF stands to usher in a new era for crypto in traditional finance. Analysts say it could position REX ahead of other platforms still awaiting SEC approval for staking capabilities. The next few weeks will be critical.
Geraci wrote simply “Here we go” on X to mark the moment. Balchunas added “Crypto ETF summer commences,” suggesting that this is only the beginning of yield based crypto funds.
CoinLaw’s Takeaway
REX Shares has quietly positioned itself to deliver a landmark product that finally merges staking rewards with mainstream accessibility. If the SEC gives formal approval, this ETF could accelerate demand for more yield oriented crypto products. It may also set a precedent for other staking based ETFs. Investors and industry watchers will be following its launch closely.
