Solana and Ethereum Staking ETF Filing lodged by RexShares
The post Solana and Ethereum Staking ETF Filing lodged by RexShares appeared on BitcoinEthereumNews.com. Asset management firm RexShares has made an ambitious move to file a prospectus for Solana and Ethereum staking ETF products in the United States. Unlike other investment firms pursuing similar products, RexShares has chosen an unconventional application model for this product. The RexShares Solana and Ethereum Staking ETF An X post from Bloomberg Senior ETF Analyst James Seyffart revealed that this filing is not the typical 19b-4 obtainable in a traditional ETF pursuit. As explained, these are 40-Act funds with a unique structure. While the launch date is not clear from the filing, the analyst suggests these products may go live within the next few weeks. This filing comes shortly after the US Securities and Exchange Commission (SEC) confirmed that Proof-of-Stake protocol staking is not securities. Commenting further on the RexShares filing, James Seyffart noted at how clever the approach is. “As you can see in screenshot above. They will be getting their spot exposure to ETH and SOL via Cayman subsidiaries. All of this, assuming they launch in near future, is a bunch of clever legal and regulatory work-arounds to get these products to market,” he said in the X post. Crypto ETF Delay Trend Gaining Ground RexShares might have chosen its unconventional approach due to the delays in different crypto spot ETF applications in the country. Recently, the US SEC decided to delay its decision on Grayscale’s Avalanche and Cardano spot ETF applications. The delay affects the company’s effort to convert its Avalanche Trust into a spot ETF and a similar application for Cardano. The security commission acknowledged Grayscale’s Cardano ETF proposal in February, kickstarting the statutory 240-day review period. With the initial decision deadline approaching, expectations surged. It is worth noting that prediction markets like Polymarket placed approval odds on the product as high as 71%, reflecting…
The post Solana and Ethereum Staking ETF Filing lodged by RexShares appeared on BitcoinEthereumNews.com.
Asset management firm RexShares has made an ambitious move to file a prospectus for Solana and Ethereum staking ETF products in the United States. Unlike other investment firms pursuing similar products, RexShares has chosen an unconventional application model for this product. The RexShares Solana and Ethereum Staking ETF An X post from Bloomberg Senior ETF Analyst James Seyffart revealed that this filing is not the typical 19b-4 obtainable in a traditional ETF pursuit. As explained, these are 40-Act funds with a unique structure. While the launch date is not clear from the filing, the analyst suggests these products may go live within the next few weeks. This filing comes shortly after the US Securities and Exchange Commission (SEC) confirmed that Proof-of-Stake protocol staking is not securities. Commenting further on the RexShares filing, James Seyffart noted at how clever the approach is. “As you can see in screenshot above. They will be getting their spot exposure to ETH and SOL via Cayman subsidiaries. All of this, assuming they launch in near future, is a bunch of clever legal and regulatory work-arounds to get these products to market,” he said in the X post. Crypto ETF Delay Trend Gaining Ground RexShares might have chosen its unconventional approach due to the delays in different crypto spot ETF applications in the country. Recently, the US SEC decided to delay its decision on Grayscale’s Avalanche and Cardano spot ETF applications. The delay affects the company’s effort to convert its Avalanche Trust into a spot ETF and a similar application for Cardano. The security commission acknowledged Grayscale’s Cardano ETF proposal in February, kickstarting the statutory 240-day review period. With the initial decision deadline approaching, expectations surged. It is worth noting that prediction markets like Polymarket placed approval odds on the product as high as 71%, reflecting…
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