Rex Shares and Osprey Funds submitted an updated prospectus on their spray SOLANA-ETF, which also includes stakeing. Against this background, Bloomberg Intelligence expert Eric Balchunas predicted the rapid approval of the new category of exchange funds.
What is this ETF?
Rex Shares and Osprey Funds have submitted applications for Sports-SOLANA-ETF and ETHEREUM-ETF with stakeing in early June 2025. Their feature is that both products are structured as C Corporation, which allows you to circumvent a long registration procedure on the Rules 19B-4.
The US Securities and Exchange Commission (SEC) expressed doubt that both products correspond to the declared classification, but accepted the paper.
New details
On June 28, 2025, on the Rex Shares page on the social network X (earlier Twitter), an announcement of the speedy launch of a sp-SOLANA-STAF spare Sports-ETF appeared. Against this background, Balchunas suggested that the issuing company successfully made all the necessary editing from the regulator.
He later confirmed this, attaching the screenshot of the corresponding letter. He also stated the following:
After approval, the product will bargain on the CBOE BZX exchange. At the same time, there was no significant reaction from SOLANA (SOL), which can be explained by the lack of specifics by the terms of launching the fund.
Recall that when submitting applications, Rex Shares and Osprey Funds planned to launch shares of these products in mid -June.
At that time, James Seyffart, another Bloomberg Intelligence analyst, noted that the companies used a “legal trick” with a classification to get around competitors.
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Source: Cryptocurrency
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