‘All systems go’ for Solana staking ETF to launch any second: Analysts

Discover the most recent tendencies within the DeFi area. This article dives into: “‘All systems go’ for Solana staking ETF to launch any moment: Analysts”.

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 mentioned in an X put up on Friday.

SEC “comfortable” with the distinctive ETF construction

ETF Store president Nate Geraci mentioned in an X put up on the identical day that it appears to be like just like 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, also referred to as “the ETF rule.” 

“Looks like they’re comfy 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 mentioned the way in which 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 almost all different crypto ETF suppliers have used for staking proposals, that are all nonetheless awaiting a choice from the SEC.

Analysts say the SEC’s feedback have been addressed

Geraci mentioned, “Looks like they believe comments have been resolved.”

“Crypto ETF summer commences,” he added.

Balchunas cited an electronic mail screenshot to verify that REX Shares have addressed the SEC’s feedback.

Source: Eric Balchunas

“So they are good to launch, it looks like. Wow,” Balchunas added.

In a put up on the identical day, REX Shares mentioned that “the first-ever staked crypto ETF” within the US is coming quickly.

Staking in crypto ETFs has been extremely anticipated by the business

REX Shares defined that its REX-Osprey SOL and staking ETF is designed to trace the efficiency of Solana whereas producing yield by way of 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 mentioned.

Source: REX Shares

Staking has been a long-awaited characteristic by many ETF spectators within the business.

On March 20, BlackRock’s head of digital property, 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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