#REX-OSPREYSolanaETF

ETF Store president Nate Geraci said in an X post on the same day that it looks like the SEC are open to REX Shares incredibly rare c-corp business structure used in the fund, which the SEC previously argued conflicts with the 6C-11 rule, also known as “the ETF rule.”

“Looks like they’re comfortable pushing forward w/ their creative ‘40 Act structure,” Geraci said. “Here we go,” he added.

He previously said on May 29 that REX Shares had taken “the regulatory end-around” with this approach.

Echoing Geraci’s sentiment, ETF analyst James Seyffart said the way that REX Shares structured their Solana

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$151.46

staking ETF proposal was “very rare in the ETF world” as it bypasses the standard 19b-4 filing process that most other crypto ETF providers have used for staking proposals, which are all still awaiting a decision from the SEC.