Asset manager Rex Shares is intensifying efforts to secure approval for its staked Solana ETF from the U.S. Securities and Exchange Commission (SEC). In a recent communication, Rex Shares inquired whether regulatory comments on its ’40 Act Solana Staking ETF filing had been addressed. Bloomberg ETF strategist Eric Balchunas noted the absence of further SEC feedback, elevating market optimism for approval.
Key Features of the REX-Osprey™ SOL + Staking ETF
Rex Shares prepares to debut the REX-Osprey™ SOL + Staking ETF, the first U.S.-based staked crypto ETF, offering dual benefits:
- Direct Solana (SOL) exposure mirroring market performance.
- Staking-derived yield via Solana’s on-chain mechanisms.
This innovation aligns with surging demand for crypto investment vehicles, underscored by S&P Global’s report on overwhelming responses to Bitcoin and crypto ETFs.
Approval Probability Skyrockets to 92%
Polymarket data reflects an 18% surge in Solana ETF approval odds, now at 92%. Bloomberg analysts previously projected a 90% chance by December 2024. Eric Balchunas confirmed:
"No further SEC comments remain. Launch appears imminent."
Concurrently, Solana whale activity spiked, with $1.3 billion in SOL moved this week amid ETF optimism.
Crypto ETF Momentum Builds Post-XRP Lawsuit Resolution
ETF Store president Nate Geraci heralds the start of "crypto ETF summer," catalyzed by the concluded XRP lawsuit. This opens doors for altcoin ETFs, including Solana and XRP-based funds.
Market Impact:
- Solana price rose 1.5% to $145.
- CME Solana futures volume hit $1.75 billion.
- Robinhood introduced Solana futures trading, capitalizing on market momentum.
👉 Explore Solana’s staking potential with REX-Osprey™
FAQ: Staked Solana ETF
1. What makes the REX-Osprey™ ETF unique?
It combines SOL price exposure with staking rewards, a first for U.S. ETFs.
2. How does staking integrate with the ETF?
The fund automatically stakes holdings, distributing yields to investors.
3. What’s the likelihood of SEC approval?
Current odds stand at 92%, per Polymarket.
4. How might this affect Solana’s price?
Approval could drive institutional demand, potentially boosting SOL’s valuation.
5. When is the expected launch date?
Pending final SEC clearance, likely by late 2024.
👉 Stay ahead in crypto investing
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1. **Regulatory Deep Dive**: SEC’s stance on staking ETFs.
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3. **Technical Breakdown**: How Solana staking works.
4. **Market Data**: Charts (described textually) on SOL performance post-announcements.