Key takeout
- The security agency has not issued any further comments on the ETH and SOL ETFs of Rex and Osprey piles, clearing the path for potential releases.
- The SEC policy shift will enable the first batch of ETFs of registered piles in the US, and accelerate the institutional adoption of Altcoin Investment products.
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Osprey Funds from ETF provider Rex Financial and Asset Management Firm may be preventing the launch of First Staked Ethereum (ETH) and Solana (Sol) ETFs in the US following new developments in the regulatory process.
In a June 27 statement, the SEC said there was “no further comment” on the company’s submission, according to Bloomberg ETF analyst Eric Balknath.
This update is made in response to requests submitted to the SEC by Rex and Osprey, confirming that all staff have commented on Ethereum and Solana ETFs in their pile.
Rex and Osprey idiots filed for Sol and Eth ETFs in late May, proposing an ETF structure that allows them to hold two prominent crypto assets and bet and distribute stake rewards to shareholders.
However, the SEC immediately raised concerns that the funds proposed by Rex and Osprey may not qualify as ETFs under existing rules due to their own C-editing business structure. The structure conflicts with ETF rules that define the acceptable corporate format of ETFs.
Despite the regulatory hurdles, industry experts hoped to see a solution, allowing funds to bring new liquidity to the crypto market.
“There’s a SEC saying there’s no more comments, so they’re good to launch it,” Balchunas said.
Rex and Osprey also signal preparation from the product side. The newly released “Coming Soon” campaign has not issued an official confirmation regarding the date of approval or launch, but it highlights upcoming bets ETH and SOL ETFs on their website.
Coming soon: First US betting crypto ETF!
We will introduce Rex-Sosprey™ Sol + Staking ETF. It is designed to track Solana’s performance while generating yield through on-chain staking.
✔sol sol exposure
✔️Staking RewardsA new era of yield generation codes… pic.twitter.com/i8yieqii5r
– Rex Shares (@RexShares) June 27, 2025
The SEC has demonstrated potential approval of the Solana ETF later this year, suggesting increased openness to incorporate staking into ETF structures in line with recent demands to modify the language of in-kind redemption and staking practices.
All seven asset managers looking to launch Solana ETFs, including Grayscale, Vaneck, 21Shares, Canary Capital, Bitwise and Franklin Templeton, have updated their filing to include staking features in response to SEC feedback.
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