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Rex-Osprey Launches First U.S. Solana Staking ETF Ahead Of Rivals
HomeNews* The Rex-Osprey Solana + Staking ETF is set to launch in the U.S., offering direct exposure to Solana with staking rewards.
A spokesperson confirmed the ETF’s launch in an email, following an X post from Rex Shares announcing its arrival. The fund will have a structure distinct from typical spot ETFs for Bitcoin and Ethereum. Instead of following the commodity trust model, it is registered under the Investment Company Act and classified for tax purposes as a C-corporation.
This announcement comes as at least nine spot Solana ETF filings remain under review by the Securities and Exchange Commission, all seeking approval to offer direct market exposure to Solana. Seven issuers have recently updated their applications with clarified language on staking practices. Bloomberg analysts estimate a 95% chance of SEC approval for these funds within the next two to four months.
Staking, which involves pledging cryptocurrency to help operate a decentralized network in return for rewards, has drawn regulatory scrutiny in past years over concerns about its risks. Recent filings address these issues as the SEC considers about 80 digital asset fund applications, following the success of spot Bitcoin and Ethereum ETFs. Bitcoin-based ETFs have attracted almost $50 billion in investments, while Ethereum funds hold about $4.1 billion in assets.
Solana’s value recently climbed 2% in 24 hours, trading at roughly $155, per CoinGecko. The crypto asset has risen approximately 10% over the past week amid growing interest in Solana-focused ETFs.
Bloomberg ETF analyst Eric Balchunas stated in an X post that Rex Shares and Osprey Funds are moving quickly to launch their fund before approval of spot ETFs. "They’re no doubt trying to get it to [market] ahead of the spot ones," he wrote, adding that the SEC’s lack of additional comments signals the fund is ready to launch.