Solana ETF Set For ‘Imminent Launch,’ Analysts Say

ETF supplier REX Shares is on the verge of launching the first-ever Solana staking exchange-traded fund (ETF), following what analysts describe as a profitable response to suggestions from the US Securities and Exchange Commission (SEC).
“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,” ETF analyst Eric Balchunas stated in an X put up on Friday.
SEC “comfortable” with the distinctive ETF construction
ETF Store president Nate Geraci stated in an X put up on the identical day it seems that the SEC are open to REX Shares extremely uncommon c-corp enterprise construction used within the fund, which the SEC beforehand argued conflicts with the 6C-11 rule, colloquially generally known as “the ETF rule.”
“Looks like they’re snug pushing ahead w/ their artistic ‘40 Act structure,” Geraci said. “Here we go,” he added. He previously said on May 29 that REX Shares had taken “the regulatory end-around” with this approach.
Echoing Geraci’s sentiment, ETF analyst James Seyffart stated the best way that REX Shares structured their Solana (SOL) staking ETF proposal was “very rare in the ETF world” because it bypasses the usual 19b-4 submitting course of that the majority different ETF suppliers have used for staking merchandise, lots of that are nonetheless awaiting a call from the SEC.
Analysts say the SEC’s feedback have been addressed
However, on Friday, Geraci stated, “Looks like they believe comments have been resolved.”
“Crypto ETF summer commences,” he added.
Balchunas cited an e-mail screenshot to verify that REX Shares have addressed the SEC’s feedback.
“So they are good to launch, it looks like. Wow,” Balchunas added.
In a put up on the identical day, REX Shares stated that “the first-ever staked crypto ETF” within the US is coming quickly.
Staking in crypto ETFs has been extremely anticipated by the trade
It defined that its REX-Osprey SOL and staking ETF is designed to trace the efficiency of Solana whereas producing yield via onchain staking.
Related: Solana futures open curiosity hits $7.4B amid ETF hypothesis: Is $200 SOL subsequent?
“A new era of yield-generating crypto exposure is here,” REX Shares stated.
Staking has been a long-awaited characteristic by many ETF spectators within the trade.
On March 20, BlackRock’s head of digital belongings, Robbie Mitchnick, described the agency’s Ether ETF as a “tremendous success” however acknowledged that the ETF is “less perfect” with out staking.
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