Summary
- The US SEC raised questions on whether the Ethereum·Solana staking ETF submitted by REX Shares and Osprey Funds meets the legal definitions.
- The SEC stated that the ETF product may not satisfy requirements under the Investment Company Act and indicated it would consider appropriate measures if no solution is found.
- REX Shares stated that they plan to launch the fund only after resolving the SEC's concerns.
The U.S. asset managers REX Shares and Osprey Funds submitted spot exchange-traded funds (ETFs) for Ethereum (ETH) and Solana (SOL) that include staking, and the Securities and Exchange Commission (SEC) has expressed somewhat negative views regarding these products.
On the 31st (local time), according to the crypto-specialized media The Block, the SEC stated in a statement about the ETF registration documents (Form N-1A) submitted by REX Shares and Osprey Funds: "If the fund is structured and operated as proposed, there are questions as to whether it would meet the definition of an 'investment company' under the Investment Company Act." This indicates that the products they intend to register may not satisfy the legal compliance requirements for an ETF.
Brent J. Fields, Deputy Secretary of the SEC, said in a statement, "Unless these concerns are resolved, we will consider the appropriate next steps to ensure compliance with federal securities laws."
Previously, on the 30th, the two companies submitted registration documents to the SEC for the launch of these ETFs.
Greg Collett, Chief Legal Officer at REX Shares, commented, "We think we can satisfy the SEC, and until then, we have no plans to launch the fund."
Uk Jin
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