RexShares has announced the launch of staking ETFs based on Solana and Ethereum in the US, which may change the financial landscape.
How Does RexShares’ Application Differ?
RexShares' application stands out by bypassing the traditional 19b-4 process associated with ETF filings. According to Bloomberg’s Senior ETF Analyst James Seyffart, this approach represents a new perspective through the 40-Act funds structure, marking a significant departure from conventional financial practices.
What Do Analysts Say?
Analyst James Seyffart praised the uniqueness of RexShares' ETF application, highlighting its potential to offer new avenues within regulatory confines. > "As you can see from the application, they have showcased a remarkably intelligent approach." CITE_W_A
Impact on the Cryptocurrency Market
RexShares' initiative holds significant implications for the crypto-financial landscape. Its compliance approach under the 40-Act may accelerate the development of similar products in the market. The SEC’s position that staking does not equate to securities enhances the legitimacy of these instruments and may attract additional investments into cryptocurrencies, potentially heralding a new era of product diversity in digital assets.
The launch of RexShares' ETFs represents a crucial step towards more accessible integration of cryptocurrencies into traditional financial markets. Similar applications from other firms are anticipated in the near future.
