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SEC Signals Potential Approval for Groundbreaking Staked Solana ETF

REX Shares is on the cusp of launching a staked Solana ETF after receiving an encouraging response from the US Securities and Exchange Commission (SEC).

The firm wrote to the SEC on June 27 to confirm that it addressed all concerns surrounding its proposed staking ETFs for Solana and Ethereum.

The SEC’s lack of objections has raised optimism among industry analysts about an imminent launch of the first-ever crypto ETF tracking staking rewards on the Solana blockchain.

Bloomberg ETF expert Eric Balchunas highlighted the significance of the SEC's non-response, indicating that the proposal is likely to gain approval soon.

He mentioned that REX Shares has submitted an updated prospectus, reinforcing the belief that the launch is just around the corner under the ticker $SSK.

The company is marketing this product as the first staked crypto ETF in the US, designed to track Solana’s performance while generating yield through on-chain staking.

It should be noted that the SEC has not yet issued formal approval for this ETF.

If greenlit, REX Shares would lead the way with a staking-focused ETF, putting it ahead of competitors seeking spot Solana offerings.

Nate Geraci, president of ETF Store, remarked that this approval could catalyze further developments in the industry by encouraging other firms to explore staking-based products.

This progress aligns with the SEC's recent clarifications, which suggested that staking models might not automatically be regarded as securities, igniting new interest in income-generating digital asset strategies.