Since spot ETFs started eyeing the crypto space, U.S. regulators have been relentless. Caution, blockages, endless delays: the story is well known. But now ETFs incorporating staking are emerging, sparking enthusiasm. And in this still cautious atmosphere, REX Shares makes a bold move. Its Solana-focused proposal, backed by an unusual legal structure, raises speculation to another level. The matter becomes serious. Experts flood Twitter with comments, analyses pour in, and investors open their eyes wide.
We are talking about a very particular fund here. The REX-Osprey™ SOL + Staking combines exposure to Solana’s price and yield generated by on-chain staking. A setup no one had yet validated, at least not in the United States. What’s most surprising is that the SEC seems to accept it.
“Everything is ready for an imminent launch,” tweeted Eric Balchunas, an analyst at Bloomberg. Meanwhile, Nate Geraci, president of the ETF Store, added: “Looks like they are ready to move forward with their creative ’40 Act’ structure. Let’s go.” In other words, the regulator turned a blind eye to an atypical legal structure, allowing REX to bypass the classic (and lengthy) 19b-4 procedure.
It should be noted that the SEC long blocked any attempt to integrate staking into an ETF. Here, it’s different: the “c-corp” model used, combined with a 40 Act framework, seems to have opened a breach. A first. And Solana quietly becomes the banner for a regulatory shift.
What REX Shares offers is not just another product. It’s a breakthrough in access to crypto staking. No need to manage private wallets or navigate obscure platforms. The traditional investor can, from their preferred exchange, buy an ETF that generates yield directly on the blockchain.
“A new era of yield-generating crypto exposure is here,” REX declared on X. This approach appeals because it gives an institutional veneer to a practice long considered complex. By integrating staking into a listed ETF, a niche tool is transformed into a mass-market product.
The timing is no coincidence. Bitcoin ETFs shattered all records at the start of the year: more than $130 billion in assets under management. Even the newer Ethereum ETFs, which lack staking, already weigh 10 billion. The one thing missing was a truly lucrative crypto ETF. And with Solana, it’s a fast, recognized but still young asset that steps into the spotlight.
This shift doesn’t come from nowhere. Several signals confirm Solana is ready to compete with the big players. Interest is rising, institutions are sharpening strategies. And data is piling up:
On the analyst side, opinions are evolving. James Seyffart of Bloomberg asserts:
Will some of these other assets — Solana, XRP, Litecoin — get to millions and millions of assets and some decent trading volume and flows? Yes, I really do think that will happen.
And why not a basket of crypto ETFs including XRP, Dogecoin, and other secondary tokens? Institutional investors, especially those subject to 13F reporting obligations, already make up nearly 20% of Ethereum ETF holders.
Solana ticks the boxes: solid technology, potential yield, growing adoption. In this landscape, the arrival of a staking ETF officially confirms what we have long suspected: altcoins are moving to the next level.
Solana continues gaining ground in increasingly regulated markets. Its growing presence on the Chicago Mercantile Exchange shows deep interest beyond speculators. And what if the imminent staking ETF was just a prelude? The prospect of a “pure” SOL ETF is becoming more credible day by day, for an asset that never ceases to surprise.
