Investment firms REX Financial and Osprey Funds are aiming to launch the first ever staked Ethereum and Solana ETFs in the U.S. Regulatory questions previously raised by the SEC appear to have been resolved.
Launch of Staked ETFs: Latest Updates
According to Bloomberg’s senior ETF analyst Eric Balchunas, the SEC informed the funds’ issuers in a statement on June 27 that it had 'no further comments' on the filings. 'Rex also filed an updated prospectus, which totally filled in. Add it all up, and it appears as though all systems go for imminent launch,' Balchunas noted.
Success of REX and Osprey in Approval Process
REX and Osprey submitted paperwork to the SEC in May proposing ETF structures that would allow the funds to hold and stake ETH and SOL, and distribute staking rewards to shareholders. However, their application was temporarily flagged by the SEC due to concerns about their unique corporate structure. Recent filings suggest those questions have been fully resolved.
Opening a New Market for Crypto Investors
REX and Osprey have also indicated readiness to roll out these products. Their website features a new 'Coming Soon' campaign highlighting the anticipated staked ETH and SOL ETFs, which will be listed on Cboe BZX under the tickers ESK and SSK.
The introduction of the first staked Ethereum and Solana ETFs is expected to provide new opportunities for cryptocurrency investments in the U.S.
