A Turning Point for Cryptocurrencies: Solana and Ethereum ETFs Including Staking May Soon Begin Trading!

In the US, the first exchange-traded funds that will both monitor cryptocurrency prices and provide investors with staking returns will soon start trading.

The new ETFs to be launched by REX Shares and Osprey Funds are progressing towards approval following the completion of the ( SEC ) comments by the U.S. Securities and Exchange Commission.

REX and Osprey had announced in May that they wanted to create ETFs structured as C-corporations that would invest in Ethereum (ETH) and Solana (SOL) assets, and generate additional returns by staking a portion of these assets. However, the SEC had temporarily halted the process, citing some legal uncertainties regarding these applications.

With the SEC's final assessment completed, it has been reported that there are no longer obstacles in front of the funds. Bloomberg senior ETF analyst Eric Balchunas stated in a post on X (, formerly known as Twitter), "It seems they are now ready to launch, wow."

REX Shares announced on the same day via X platform that the Solana staking ETF will be coming "very soon." Although there was no direct announcement regarding the Ethereum staking ETF, both funds are included in the registration documents submitted to the SEC. The ETFs will be traded on the Cboe BZX exchange under the symbols ESK (ETH staking ETF) and SSK (SOL staking ETF).

This development is taking place in a notably competitive environment, particularly on the Solana side. Large firms like Invesco and Galaxy have also submitted spot Solana ETF applications. Eric Balchunas had indicated that these funds could be approved within two to four months.

However, REX-Osprey's approach offers a remarkable legal solution to bypass this approval process. The funds opt for a taxable C-corporation status, unlike most ETFs. This way, staking revenues are taxed within the fund before being distributed to investors as dividends. Although the management fee for both funds is set at 0.75%, the total cost is expected to be higher due to income tax.

*This is not investment advice.

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