REX-Osprey announces the upcoming launch of the first staking-based cryptocurrency ETF in the US, SSK, which tracks Solana's performance and generates income through on-chain staking. Bloomberg ETF analyst Eric Balchunas also confirmed that the SEC has no further comments, indicating that the ETF has adjusted its structure to meet regulatory requirements. If successfully listed, it not only represents the success of a Solana spot ETF but also opens up the possibility of passive staking income. Previously, the SEC did not approve ETH spot ETFs with staking features. If this proposal passes, does it also mean that ETH spot ETFs will be allowed to include staking functions?
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ToggleREX-Osprey Introduction
REX-Osprey is a fund brand launched through collaboration between two institutions, combining the expertise of REX Shares and Osprey Funds, focusing on developing innovative cryptocurrency ETFs.
REX Shares is an innovative asset management company specializing in thematic ETFs, having previously launched multiple ETFs related to volatility, leverage, and blockchain.
Osprey Funds is known for providing digital asset investment products, having launched products like Osprey Bitcoin Trust (OBTC) as a competitor to Grayscale, with OBTC later being acquired by Bitwise and transformed into its Bitcoin ETF (BITB) shares.
If Solana Staking is Approved, Will ETH Also Open Up?
According to the document submitted to the SEC, the fund launched by REX-Osprey with the code SSK will be listed on the Nasdaq exchange. SSK seeks to invest more than 50% of its assets directly in the reference asset (Solana) and aims to generate income and capital appreciation through staking.
If SSK is successfully listed, it not only represents the success of a Solana spot ETF but also opens up the possibility of passive staking income. Previously, the SEC did not approve ETH spot ETFs with staking features. If this proposal passes, does it also mean that ETH spot ETFs will be allowed to include staking functions?
Fidelity, Bitwise, and Other Companies Have Also Submitted Applications, Ready to Launch at Any Time
According to the post by Bloomberg ETF analyst Eric Balchunas, the SEC stated no further comments, indicating that the ETF may have adjusted its structure to meet regulatory requirements and is ready to launch.
Previously, Bloomberg estimated a 90% chance of Solana ETF approval this year, with the SEC's final approval deadline being 10/10 unless extended. Companies like Grayscale, VanEck, 21Shares, Canary, Bitwise, Franklin, and Fidelity have already submitted applications.
Risk Warning
Cryptocurrency investments carry high risks, and prices may fluctuate dramatically. You may lose all of your principal. Please carefully assess the risks.
