🚨🪂OFFICIAL: Rex Shares and Osprey Funds have confirmed the launch of the Rex-Osprey Solana + Staking ETF this Wednesday (2), marking a historic moment: it will be the first ETF in the USA to offer direct exposure to a cryptocurrency with staking rewards conducted on-chain. The fund will be based on Solana (SOL).
📌 Differentiators:
1. The ETF will do direct on-chain staking with at least 50% of the assets.
2. Holds real Solana, not derivatives.
3. Structured under the Investment Company Act, unlike the spot ETFs of BTC and ETH (which use a trust format).
4. Taxed as a C-corp.
The approval came days after the SEC stated that it would not make formal objections to the fund. The company has also filed for an Ethereum ETF with the same staking proposal.
The movement comes at a strategic moment (previous post). Upwards 🚀