REX Shares Submits Prospectus for Solana and Ethereum Staking ETFs

According to Odaily, Bloomberg analyst James Seyffart announced on the X platform that REX Shares has filed a prospectus for Solana and Ethereum staking ETFs, which are expected to be listed on the U.S. market in the coming weeks. These funds are products under the 1940 Act and utilize a C-corporation structure instead of the traditional 19b-4 process. Seyffart noted that this approach might be a way to gain some level of approval from the SEC. The ETFs will gain exposure to SOL and ETH spot markets through a Cayman subsidiary, employing a series of innovative legal and regulatory strategies to facilitate their listing. Seyffart also mentioned that even if more efficient structures emerge in the future, this might be the first method to go live.