Compass Investments

– The update follows a request REX and Osprey sent to the SEC asking for confirmation that all staff comments on their Ethereum and Solana staking ETFs have been resolved.

REX and Osprey filed for the SOL and ETH ETFs in late May, proposing structures that would allow the funds to hold and stack shares of these two popular crypto assets and distribute rewards to shareholders.

However, the SEC immediately raised concerns that the proposed REX and Osprey funds could not be classified as ETFs under current rules because of their C-corp corporate structure. This structure conflicts with ETF rules defining acceptable corporate forms.

Despite the regulatory challenges, industry representatives were hopeful of a favorable ruling, which would pave the way for new liquidity to flow into the crypto market.

The SEC said there were no further comments, so it looks like they’re ready to go, Balchunas said.

REX and Osprey have also signaled that the product is ready. Their website actively announces upcoming ETFs based on ETH and SOL as part of the new “Coming Soon” campaign, although there is no official confirmation of approval or launch date yet.

Coming Soon: The first ever cryptocurrency-stacking ETF in the U.S.!

Introducing the REX-Osprey SOL Staking ETF, designed to track the performance of Solana and generate income through staking on the blockchain.

the U.S. Securities and Exchange Commission (SEC) has signaled possible approval of the Solana ETF this year, following a recent request to revise the language around in-kind redemption and staking, signaling a growing willingness to incorporate staking into the ETF structure.