REX Shares·Osprey Funds Submit Ethereum·Solana Staking ETF Application to US SEC

Doohyun Hwang

Summary

REX Shares and Osprey Funds announced that they have submitted an application for a staking ETF to the US SEC, which will invest in Ethereum and Solana and also provide staking rewards.
The two ETFs will invest at least 80% of their total net assets in the respective assets, with plans to utilize at least 50% of those holdings for staking.
Although the SEC has not yet approved any staking ETF products, recent changes in the regulatory environment have increased investor interest.

US asset management firms REX Shares and Osprey Funds are pursuing so-called 'staking ETFs,' which invest in Ethereum (ETH) and Solana (SOL) while also providing rewards through staking (depositing).

On the 30th (local time), the two companies submitted registration documents (Form N-1A) to the US Securities and Exchange Commission (SEC) to launch such ETFs.

According to the submitted documents, each ETF will invest at least 80% of its total net assets in Ethereum and Solana, and plans to utilize at least 50% of each asset holding for staking. However, details regarding custodians and service providers to actually carry out the staking have not been clearly disclosed.

Staking ETFs are structured differently from traditional spot ETFs. These products plan to classify rewards obtained by depositing investor assets into blockchain networks as dividend income and provide them to investors. The SEC has not yet approved any ETF products that include staking. However, the possibility of permitting staking has increased recently since the election of President Donald Trump.

James Seyffart, a Bloomberg analyst, analyzed, "These ETFs are a sophisticated legal combination designed to bring them to market by circumventing current regulations," adding, "More efficient product structures may also emerge in the future." Meanwhile, the annual management fees for the Ethereum and Solana ETFs have been set at 1.28% and 1.4%, respectively.

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