The first Ethereum and Solana Staking Exchange-Traded Fund (ETF) can debut in the United States for a week, following a recent filing of ETF shares Rex using “regulations workarounds,” according to ETF analysts.
The staking substance is highly expected for the spot ether (Eth) ETFs since they launched in July 2024, along with some industry executives that focus that the product is incomplete without it.
Rex’s sharing has a “unique structure”
“These ETFs are structured as C-corps. Which is rare in the ETF world,” ETF analyst James Seyffart Says of rex shares filing on a post of May 30 x.
“The launch date is not known, but may be within the next few weeks.”
Rex’s share of filing explained that the fund “was classified as a C-Corporation for tax purposes, and, consequently, there will be current and deferred tax costs.
Seyffart explained that Rex suggested that Solana suggest (Sol) and the Ether Staking ETFS “is a 40-act fund with a unique structure and does not go through the process of 19B-4.”
It came after the SEC delayed its decision on Bitwise application to add staking to its Ether ETF on May 21. At that time, Seyffart said the delay Looking forward because the SEC “It usually takes full time to respond to a 19b-4 filing.”
Two Crypto ETFs launched “close”
Seyffart said funds will get exposure to the area in Ether and Solana “through Cayman’s subsidiaries.”
“All of this, thinking they will launch in the near future, is a bunch of clever legal and regulatory workarounds to get these products,” Seyffart said.
Related: Bitcoin ETF
“There are pros and cons in the structure, but it looks like a pro is a way to get some degree of signoff from the SEC,” Seyffart said.
Echoing a similar emotion, ETF store president Nate Geraci Says Rex’s shares have taken “the regulation of the end.”
“It looks like the two Crypto ETF launches are near,” said Geraci, explaining that both ETFs are seeking to bet “at least 50%” of Solana and Ether.
This is a long -awaited feature of many in the industry. On March 20, Blackrock’s digital assets Robbie Mitchnick described the company’s Ether ETF as a “massive victory” but identified a major limit. Mitchnick said the ETF is “less perfect” without staking.
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