$BNB What's next?

For now, the final approval of the spot ETFs linked to Solana, XRP, Polkadot, Dogecoin, and Trump's meme coin is still pending. The issuers anticipate that no decisions will be made until the SEC publishes its second important guidance document. They expect this to happen in the last quarter of 2025.

REX-Osprey launches its first U.S. ETF with exposure to Solana

As regulatory foundations are being established, some asset managers are implementing creative alternative solutions. On July 1, REX Financial and Osprey Funds launched the REX-Osprey Sol + Staking ETF. It is noteworthy that this is the first ETF listed in the U.S. that offers exposure to Solana, albeit indirectly.

The fund uses an offshore investment structure that houses both Solana and a non-U.S. Solana fund. Additionally, it incorporates staking, allowing investors to earn returns in exchange for participating in the Solana blockchain validation process.

Surprisingly, the ETF attracted $12 million in assets on its first day, highlighting investors' interest in products related to Solana. REX CEO Greg King confirmed that the firm is positioning itself for a spot ETP for Solana as soon as the SEC finalizes the rules.