REX Shares Set to Launch First-Ever Solana Staking ETF Following SEC Green Light

REX Shares appears ready to roll out the first-ever Solana staking ETF in the United States, after what analysts say has been a positive response from the SEC to its unconventional regulatory approach.

SEC Comfortable with Rare C-Corp ETF Structure

The upcoming ETF, which will include onchain staking rewards, is seen as a breakthrough in crypto-based financial products. ETF Store president Nate Geraci noted on Friday that the SEC now seems “comfortable” with REX Shares’ use of a C-corporation structure—a rare and previously contentious choice under SEC rules.

Looks like they’re comfortable pushing forward w/ their creative ‘40 Act structure,” Geraci wrote on X, referring to the Investment Company Act of 1940, which governs mutual funds and certain ETFs. He previously described REX’s workaround as a “regulatory end-around” for crypto staking ETFs.

Analysts Confirm Imminent Approval

Bloomberg ETF analyst Eric Balchunas also confirmed the imminent launch, citing updated filings and internal communication. “All systems go for imminent launch,” he said, adding that REX Shares appears to have satisfied the SEC’s final comments.

Fellow ETF analyst James Seyffart described REX’s ETF proposal as “very rare in the ETF world” due to its avoidance of the standard 19b-4 filing process. That process, typically required for crypto staking ETFs, has stalled similar proposals from other firms like Fidelity and ARK.

Product Details: Solana Exposure + Onchain Staking

The fund, officially titled the REX-Osprey Solana ETF, will offer investors exposure to Solana (SOL) while generating passive income through onchain staking rewards. This mechanism allows token holders to earn yield by supporting network operations—an increasingly in-demand feature for crypto-focused funds.

In a post on Friday, REX Shares confirmed the product was “coming soon,” branding it as the first staked crypto ETF in the U.S.

Staking ETFs: A Long-Awaited Innovation

The development marks a major step for crypto ETFs, particularly those tied to staking-enabled blockchains like Ethereum and Solana. Many industry participants have expressed frustration over the SEC’s prior hesitance to approve staking components.

On March 20, BlackRock’s head of digital assets Robbie Mitchnick acknowledged this challenge, calling its recently approved Ethereum ETF a “tremendous success” but “less perfect” without staking functionality.

With the apparent SEC approval of REX Shares’ Solana staking ETF, the product could open the door for broader acceptance of yield-generating crypto ETFs and potentially set a precedent for future filings.

In-Progress Crypto ETFs

Status	Asset	Issuer/Application Name	Filing Date / Type	Decision Deadline
Amended	Solana (SOL)	Canary, 21Shares, Bitwise amended filings (Solana ETF)	June 13 2025 filings (reuters.com)	Unknown
Decision Soon	Digital Large Cap (BTC, ETH, XRP, SOL, ADA)	Grayscale GDLC → proposed ETF conversion	Conversion request – deadline July 2, 2025
Filed	Cardano (ADA)	Grayscale Cardano Trust → spot ETF	Filed Feb 10, 2025	Deadline Oct 2025 (with possible July milestone)
Filed	Solana (SOL) Trust	VanEck Solana Trust	Filed June 27, 2025	Decision due Oct 2025
Filed	Avalanche (AVAX)	VanEck AVAX ETF	Filed March 14, 2025	Decision by July 2025
Filed	Dogecoin (DOGE)	21Shares Dogecoin ETF (filed April 9 2025), Bitwise DOGE ETF (filed Jan 28 2025)	Filed early 2025	SEC deadlines between June–Jan 2026
Filed	XRP	Franklin, WisdomTree, CoinShares, REX-Osprey, ProShares etc.	Filed early 2025	Deadlines June–Aug 2025
Filed	Litecoin (LTC)	CoinShares Litecoin ETF; Franklin Litecoin ETF	Filed Jan 2025	Deadline May–July 2025
Filed	XRP, SOL, etc.	Bitwise, REX-Osprey and others (multiple single & leveraged ETFs)	Filed Dec 2024–Jan 2025	Various deadlines in April–July 2025
Under Review	Ethereum staking & hybrid crypto ETFs	Bitwise and others applying for staking-feature ETFs	Pending SEC stance on staking	Decisions expected later in 2025

What to Watch Next

• Grayscale GDLC conversion decision by July 2, 2025.
• Solana ETF amendments may prompt action after June filings.
• Timing on XRP, SOL, LTC, AVAX, DOGE, with key deadlines throughout summer–early 2026..
• Emerging trend: altcoin ETFs may gain more traction under a more permissive SEC leadership.
• Staking-feature ETFs could represent the next frontier once regulatory clarity arrives .