Key Insights:
- REX Shares is set to launch the first-ever US Solana staking ETF ($SSK) in the US.
- The ETF will be able to generate yield for investors through on-chain staking.
- If approved, this new staking ETF could be a major milestone for Solana and the crypto industry as a whole.
A new chapter in crypto investing is about to start.
According to reports, REX Shares, a U.S.-based ETF provider is now on the verge of launching the US’ first-ever Solana staking exchange-traded fund (ETF).
After months of regulatory discussions, updates and structuring, analysts believe that the fund is a mere days away from going live.
This development could be a major milestone not only for Solana, but also for the general crypto space as a whole: Especially as demand grows for yield-generating digital assets.
SEC Teases Green Light After Months of Deliberation
On 27 June 27 REX Shares reached out to the U.S. Securities and Exchange Commission (SEC) to confirm whether all regulatory issues with its proposed Solana and Ethereum staking ETFs had been resolved.
Surprisingly, the SEC responded with no further comments, which means that the last known barrier to launch has just been removed.
Rex also filed an updated prospectus, which totally filled in. Add it all up and it appears as though all systems go for imminent launch. $SSK is the ticker. pic.twitter.com/Mkbqd2Qjo4
— Eric Balchunas (@EricBalchunas) June 28, 2025
According to Bloomberg ETF analyst Eric Balchunas, the REX Shares ETF is now at an “all systems go,” juncture.
The absence of feedback from the SEC shows that an approval is incredibly close, and according to Balchunas, the ETF will trade under the ticker symbol $SSK. REX Shares followed up with its own announcement, in which it communicated that “the first-ever staked crypto ETF in the U.S. is coming soon.”
What Makes This REX Shares ETF Special?
Unlike traditional crypto ETFs that track the price of an asset, the REX-Osprey SOL Staking ETF will do something different.
According to the official filing, it will generate yield through on-chain staking. Put simply, the fund will hold Solana tokens and earn rewards for investors by participating in the network’s proof-of-stake process.
This type of ETF provides two separate benefits to investors.
First, they gain exposure to Solana’s price movements. Second, they receive extra returns from staking, which is a feature many crypto investors value but haven’t been able to enjoy.
As REX Shares put it, “A new era of yield-generating crypto exposure is here.”
REX Shares Regulatory Strategy That Paid Off
REX Shares’ approach to getting this ETF approved was anything but standard. According to Balchunas, the company used a C-corporation structure combined with a ’40 Act fund model.
When combined, this stands as a rare setup in the ETF space. This is because most crypto ETF providers opt for the typical 19b-4 process, which involves more red tape.
According to insights from Nate Geraci, president of the ETF Store at the time of the initial filing, REX’s route was a “regulatory end-around.”
However, he now says that the SEC appears “comfortable” with the structure.
ETF analyst James Seyffart added that such a setup is “very rare.” He described REX’s approach to the filing as a creative but effective path to bypass roadblocks. To summarize, other asset managers looking to launch similar products are expected to begin rushing to repeat REX’s filing style.
Why The REX Shares ETF Matters for the Industry
The possibility of a staked Solana ETF is more than just good news for Solana holders. For starters, this could be a fresh start for how digital assets are packaged and offered to investors.
Until now, the lack of staking in ETFs had been a major limitation, with even BlackRock’s Ether ETF being criticized for not including staking.
However, the launch of $SSK could change that narrative. It could make it clear that yield-bearing crypto funds are not only possible, but also doable under U.S.law. If approved, REX Shares will become the first company in the U.S. to offer a staking-based crypto ETF.
This puts it ahead of other applicants still waiting on decisions for spot Solana products.
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