REX Shares has filed an updated prospectus with the U.S. Securities and Exchange Commission (SEC) for its Solana staking ETF, signaling a potential launch of the first-ever staked crypto ETF in the U.S. Analysts interpret this move as a final step toward regulatory greenlighting.
Key Developments
- Updated Prospectus Filed: ETF analyst Eric Balchunas confirmed that REX Shares submitted a completed prospectus, indicating readiness for launch under ticker $SSK.
- Unique Corporate Structure: The ETF employs a rare 1940 Act structure, bypassing standard SEC Rule 6C-11 objections. ETF Store President Nate Geraci noted the SEC’s openness to this "regulatory workaround."
- SEC Comments Addressed: Analyst James Seyffart shared an email confirming REX Shares resolved SEC feedback, clearing the path for launch.
Why This Matters
- Investor Benefits: The ETF offers Solana exposure plus staking rewards, creating a dual-income stream.
- Market Innovation: This could pioneer a new category of yield-generating crypto ETFs, setting a precedent for future staking-based funds.
Regulatory Context
The SEC historically challenged non-standard ETF structures but now appears accommodating. The Solana ETF’s approval could catalyze similar products, marking a shift in crypto ETF regulation.
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FAQs
Q: What makes this ETF unique?
A: It combines Solana price tracking with staking rewards—a first in the U.S. market.
Q: How does the structure bypass SEC rules?
A: It uses a 1940 Act framework, avoiding traditional 19b-4 filings required by competitors.
Q: When will the ETF launch?
A: Analysts predict an "imminent" launch following the completed prospectus.