BNB-ETF: REX Shares and Osprey Funds have filed for a new fund.
REX Shares and Osprey Funds have submitted an application to the SEC for a spot BNB-ETF named REX-Osprey BNB STAKING ETF. If approved, it will trade on the Cboe BZX exchange.
The fund will allow investors to gain direct access to token $BNB , and will use most of its assets for staking. The issuance and redemption of shares will be conducted in cash.
Bloomberg Intelligence analyst James Seyffart believes the fund could hit the market as early as November 9-10. This is made possible by a streamlined process that allows bypassing the lengthy application review, as the product is classified under the Investment Company Act of 1940.
This approach has already been successfully applied by the company for its Solana-ETF, which came to market just a month after the application was filed. In two months, it attracted $161.7 million, which, while less than Bitcoin or Ethereum ETFs, confirms the interest in such products.
