He wrote:
“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.”
Additionally, he shared a screenshot of an internal email suggesting the SEC’s comments have been addressed. He said:
“So they are good to launch, it looks like. Wow.”
The proposed ETF, known as the REX-Osprey Solana staking ETF, is designed to track Solana’s market performance while generating additional yield through onchain staking rewards.
If approved, it would allow traditional investors to gain exposure to staking income without directly holding or managing digital assets themselves.
ETF Store president Nate Geraci highlighted that REX Shares used an unconventional corporate structure for the fund, a C-corporation under the Investment Company Act of 1940, commonly known as the “40 Act structure.”
This design sidesteps regulatory hurdles that have stalled other crypto staking ETF proposals under the standard 19b-4 filing process.
He wrote:
“Looks like [the SEC is] comfortable pushing forward with their creative ‘40 Act structure.”
Geraci previously called this approach a “regulatory end-around” that avoids the ETF rule’s restrictions on direct staking strategies.
In a statement on Friday, REX Shares confirmed the product is “coming soon,” calling it the “first-ever staked crypto ETF” in the U.S.
The firm further stated:
“A new era of yield-generating crypto exposure is here.”
The SEC has not yet issued a formal announcement or launch date for the REX-Osprey Solana staking ETF.
