Rex shares Spot Solana strike Exchange-Traded Fund (ETF) is ready to become the first SOL ETF that starts acting in the United States, possibly already in this week.
Bloomberg Senior ETF analyst Eric Balchunas said on 28 June that the newest request from the company at the US Securities and Exchange Commission (SEC) indicates that it is ready to go live.
He wrote:
“Rex has also submitted an updated prospectus, which has been fully filled. Add it all and it seems as if all the systems go for the impending launch.”
Moreover, he shared a screenshot of an internal e -mail that suggests that the comments of the SEC have been tackled. He said:
“So they are good to launch, it looks. Wow.”
The proposed ETF, known as the Rex-Superprey Solana strike ETF, is designed to keep track of the market performance of Solana and at the same time generate extra yield through strike rewards.
If approved, traditional investors would enable income to obtain income without directly keeping or managing digital assets.
ETF shop president Nate Geraci emphasized that REX shares used an unconventional business structure for the fund, a C-corporation under the 1940 Investment Company Act, better known as the ’40 ACT structure ‘.
This design bypasses regulatory obstacles that other crypto-deployment ETF proposals have stalled under the standard 19B-4 entering process.
He wrote:
‘Looks like [the SEC is] Push forward comfortably with their creative ’40 ACT structure. ‘
Geraci previously called this approach an “end-around” regulating that avoids the limitations of the ETF rule on direct strategies for setting up.
Bloomberg Senior ETF analyst James Seyffart repeated Geraci and noted that the structure ‘is very rare in the ETF world’, which gives Rex shares a lead while other providers continue to wait for SEC decisions about similar products.
In a statement on Friday, Rex shares confirmed that the product will be ‘coming’ soon, calls the ‘very first Steates-Crypto ETF’ in the US
The company further explained:
“A new era of revenue generating crypto-exposure is here.”
The preparation of ETFs are generally expected as the next limit in Crypto investing products. In March, BlackRock’s head of digital assets, Robbie Mitchnick, the ETF ETF of the company described as a “huge success”, but acknowledged that it was “less perfect” without turning off.
The SEC has not yet issued a formal announcement or launch date for the Rex-Esprey Solana strike ETF.
