#SECETFApproval The SEC of the U.S. recently issued its most comprehensive guide to date on cryptocurrency exchange-traded products (ETP). What’s next?

For now, the final approval of spot ETFs linked to Solana, XRP, Polkadot, Dogecoin, and Trump's meme coin is still pending. Issuers anticipate that decisions will not be made until the SEC publishes its second important guidance document. They expect this to occur in the last quarter of 2025.

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

As regulatory foundations are solidified, some asset managers are implementing creative alternative solutions. On July 1, REX Financial and Osprey Funds launched the REX-Osprey Sol + Staking ETF. Notably, 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 investor interest in Solana-related products. REX CEO Greg King confirmed that the firm is positioning itself for a Solana spot ETP as soon as the SEC finalizes the rules.