The first exchange-traded fund (ETF) for cryptocurrency investments in the United States will begin trading this Wednesday, according to Company. The product will provide investors exposure to Solana.
) with earning investment rewards on-chain - the first of its kind in the industry for an exchange-traded fund.
The price of Solana rose by nearly 4% within an hour of the announcement, indicating strong market interest. The exchange-traded investment fund is expected to be listed under the ticker SSK.
A significant green light for Solana exchange-traded investment funds in the United States.
This exchange-traded investment fund combines immediate exposure to Solana with the added benefit of investment returns. Investors will hold shares reflecting both the price and the rewards generated from on-chain investment activities.
Meanwhile, this makes it the first exchange-traded investment fund in the United States to distribute original investment income to shareholders.
Unlike traditional exchange-traded funds that require lengthy approval from the Securities and Exchange Commission under exchange rules, the REX-Osprey product uses a unique regulatory structure.
It is registered under the Investment Company Act of 1940 and operates through Company C, allowing it to launch without filing a 19b-4.
This structure also avoids direct engagement with the Securities and Exchange Commission in enforcement matters related to investment, which has halted many pending applications for spot exchange-traded funds.
Notably, REX Shares previously received informal confirmation from the Securities and Exchange Commission that there were no outstanding comments on its filing.
The exchange-traded investment fund will be available to American investors and will provide liquidity 24 hours a day, 5 days a week, commission-free access (via certain platforms), and transparent distribution of rewards.
Unlike investment programs on cryptocurrency exchange platforms, investors retain full exposure through a regulated financial instrument.
This represents a major milestone for crypto asset management in the United States. It shows that investment-based returns can coexist with regulated exchange-traded fund frameworks - something that was previously considered a gray area by regulators.
Today's Solana price chart.
It also puts pressure on spot exchange-traded fund applicants for Solana like VanEck and 21Shares. Their filings, based on standard commodity fund structures, are still under review by the Securities and Exchange Commission and do not yet include investment components.
Therefore, the REX-Osprey product may serve as a model for regulatory circumvention for others.