Listen, an interesting thing is coming up in the USA: REX Shares has applied to launch the first exchange-traded funds (ETFs) directly related to Ethereum and Solana. And the most interesting thing is that they have found a way to circumvent the standard regulatory barriers that previously prevented such products from appearing on the market.
Usually, to launch an ETF in the United States, you need to go through the SEC and their well-known form 19b—4 - this is a long and tedious procedure. But REX Shares decided to go the other way. Instead of classic funds under the so-called "Law 40", they created ETFs in the form of C corporations — this is a rare but legal approach that allows you to bypass some of the bureaucracy. In fact, they have found a loophole, and now there is a chance that these funds will be operational in a few weeks.
What is especially important is that staking will be available in these ETFs, which was not the case before. Let me remind you: staking is when you "freeze" your tokens on the blockchain network (for example, ether or solana) in order to participate in its work and receive remuneration for it. Institutional investors have long asked for such a format to be allowed, but the SEC has resisted. Now, it seems, there is a way to get around this barrier.
One more point: the funds themselves will have access to ETH and SOL through subsidiaries in the Cayman Islands. This is a standard move for managing taxes and risks when working with crypto. Yes, the C-corp structure can create difficulties with taxation, because there may be a double tax. But analysts say it's a reasonable price to pay for the opportunity to introduce staking into a regulated market.
Interestingly, in these ETFs, at least 50% of the assets will be stored in ethereum and solana, meaning they will really be crypto-oriented, and not just "on paper."
In general, if this launch takes place, it will be an important milestone for the entire crypto industry in the United States. Before that, Ether ETFs had already been launched, but without staking, which greatly reduced their value. And here a truly working product can appear - with awards for staking, institutional packaging and a stock ticker.
Now the question for you is:
if it becomes possible to invest in an ETF for ether or solana with staking, do you think it's worth going into such a product or is it better to keep the crypt directly?