REX Shares Files for Ethereum, Solana Staking ETFs in US

This filing may influence the trend toward regulatory acceptance of cryptocurrency ETFs, indicating potential positive shifts for ETH and SOL markets.

REX Shares has filed for staking ETFs targeting Ethereum and Solana, employing a distinct C-Corp approach.

BIG NEWS: @REXShares just filed an effective prospectus for Solana and Ethereum staking ETFs to list here in the US. Don’t know launch date but could be within the next few weeks. These are 40-act funds with a unique structure and do not go through the 19b-4 process.,

Management fees are set at 0.75%, with expectations of total first-year expenses around 1.28% of assets, factoring in taxes. The funds will own Cayman Islands subsidiaries, which is designed to navigate U.S. tax and securities regulations more efficiently and may signal greater regulatory flexibility, enabling them to buy and stake spot ETH and SOL.

The move might affect the ethereum and solana ecosystems, potentially drawing investor interest and altering the landscape for crypto staking. Broader industry implications could arise as competing staking services and Layer 1 platforms adapt.

Despite lacking a precise launch date, the timeline is contingent on backend approvals. The SEC acknowledgment without opposition illustrates potential warming to innovative crypto offerings. If launched, the ETFs could serve as a model for upcoming products.

Potential outcomes include increased regulatory acceptance and expanded institutional participation in staking technologies. The market’s response may pave the way for similar structures, impacting Ethereum and Solana components.