Asset Manager CoinShares Begins Process for a US-Based Solana Staking Product
Main Idea
CoinShares has initiated steps to launch a Solana staking ETF in the U.S., aiming to combine staking rewards with traditional ETF accessibility, though regulatory approval remains uncertain due to SEC scrutiny.
Key Points
1. CoinShares registered a new corporate entity in Delaware to pursue a Solana staking ETF, which would hold SOL tokens and distribute staking rewards to investors.
2. The proposed ETF would trade on established stock exchanges, offering a bridge between crypto staking and traditional financial markets.
3. The SEC has shown caution toward crypto ETFs, particularly those involving altcoins and staking, posing regulatory hurdles for approval.
4. Risks such as 'slashing' (penalties for validator misbehavior) must be addressed in the ETF's structure.
5. Organizations like Jito Labs, VanEck, and Multicoin Capital are advocating for liquid staking in Solana-based ETPs to improve regulatory acceptance.
Description
CoinShares registers Solana staking ETF entity in Delaware, signaling U.S. market intent. Proposed ETF aims to merge PoS staking rewards with traditional ETF accessibility. Regulatory approval faces hurdles amid SEC scrutiny of staking and altcoin ETFs. Asset manager CoinShares has taken a formal step toward launching a proposed Solana (SOL) staking exchange-traded fund (ETF) in the U.S. by registering a new corporate entity in Delaware, state filings show. The move represents an early but signi...
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