REX Shares is nearing the launch of the first ever Solana staking ETF, having received positive feedback from the US Securities and Exchange Commission (SEC).
SEC Feedback
Analysts report that REX Shares has addressed SEC comments and filed an updated prospectus. ETF analyst Eric Balchunas stated in a post on X that 'all systems are go for imminent launch.'
Unique ETF Structure Sparks Interest
ETF Store President Nate Geraci pointed out that the SEC appears open to the unique corporate structure used by REX Shares that previously raised compliance questions regarding Rule 6C-11. He added that 'they seem comfortable pushing forward.'
ETF analyst James Seyffart also noted that the way REX Shares structured their ETF proposal is 'very rare in the ETF world' as it bypasses the standard 19b-4 filing process.
Market Expectations and New Era of Staking
REX Shares indicated that its ETF is designed to track the performance of Solana while generating yield through on-chain staking. This feature has been highly anticipated by many in the ETF industry, potentially marking a new era for staking in the cryptocurrency space.
The launch of the first Solana staking ETF by REX Shares represents a significant milestone in the evolution of cryptocurrency investments, opening new opportunities in staking.
