30.06.2025 20:56
The Securities and Exchange Commission (SEC) has paved the way for the first Solana staking exchange-traded fund (ETF) to launch in the United States, signaling a significant development in the cryptocurrency investment landscape. This follows the SEC's notification to REX Shares and Osprey Funds that they had no further comments regarding their ETF filing; a tacit approval often interpreted as a green light within the industry, mirroring the approvals preceding the launch of spot Bitcoin ETFs from major firms like BlackRock and Fidelity.
This groundbreaking ETF, officially named the REX-Osprey Solana and Staking ETF, is scheduled to begin trading this Wednesday, July 2nd, as announced via a post on X (formerly Twitter). It provides US investors with unprecedented access to both Solana's price fluctuations and the associated staking rewards, a feature unavailable through previous investment vehicles.
Crucially, the fund's unique structure is the key to its regulatory success. Unlike traditional crypto trusts, it operates under the Investment Company Act of 1940 as a C-corporation. This innovative approach allows staking income to be distributed to investors seamlessly, circumventing the regulatory complexities related to yield, taxation, and custody that had previously hampered similar products. This structure resolved the SEC's earlier concerns, originally raised on May 30th when a delay was requested to address the fund's compliance with the 1940 Act's definition of an investment company. Bloomberg's James Seyffart had previously highlighted the potential of this unique C-corp format to sidestep typical regulatory hurdles, a prediction now seemingly confirmed by the SEC's silence.
The imminent launch has generated considerable excitement, with REX Shares already promoting the ETF's impending arrival and analysts, such as Eric Balchunas, expressing their enthusiastic approval on X. This development marks a pivotal moment, significantly broadening investor access to the Solana ecosystem and the rewards associated with staking. Prior to this ETF, participation in staking often required a more complex and less accessible approach.
