#REX-OSPREYSolanaETF

REX‑Osprey Launches the First U.S. Solana Staking ETF

June 30, 2025 — REX Shares, collaborating with Osprey Funds, officially launched the REX‑Osprey SOL + Staking ETF, marking the first U.S. exchange-traded fund that packs both direct exposure to Solana (SOL) and on-chain staking rewards into a single financial product .

🛠️ 1. A Bold Structural Innovation

Rather than follow the typical 19b‑4 approval route, REX‑Osprey elected to structure the fund as a 1940 Act C‑ corporation. Utilizing a Cayman Islands subsidiary to hold and stake SOL, the setup allowed the ETF to bypass lengthy SEC clearance delays—and the fund’s registration became effective on May 30, 2025 .

⚖️ 2. Early SEC Push-Back

Initially, the SEC flagged the proposal. Concerns centered on whether staking-heavy C‑corp structures meet legal definitions under the Investment Company Act and Rule 6c‑11. Critics noted the registration went active before regulatory issues were fully resolved .

✅ 3. Regulatory “Green Light”

On June 28, the SEC informed REX‑Osprey that it had “no further comments” on the staking structure, effectively granting approval to launch the SOL and ETH staking ETFs .