Rex Shares and Osprey Funds are seeking regulatory approval to launch the Rex-Osprey Solana + Staking ETF, positioned as the first U.S.-based Solana ETF designed to provide investors with asset exposure coupled with staking rewards.
The ETF adopts a unique structure regulated under the Investment Company Act and treated as a C-corporation for tax purposes, differing significantly from traditional spot Bitcoin or Ethereum ETFs.
A core feature involves staking at least 50% of the fund’s underlying Solana holdings. This staking activity will be facilitated through a Cayman Islands subsidiary, enabling the provision of potential yield alongside price appreciation for investors.
The Securities and Exchange Commission is currently reviewing multiple applications for spot Solana ETFs. Industry analysts have expressed high confidence in eventual approvals, citing the strong institutional demand evident in this filing.
Market sentiment for Solana showed positive movement preceding this news, with SOL price rising 10% over the prior week, reflecting growing optimism.
The success or failure of this ETF application, particularly its innovative integration of staking within the regulated framework, is anticipated to significantly impact future regulatory stances on crypto ETFs and shape investor preferences for products offering combined exposure and yield.