Companies REX Shares and Osprey Funds have announced plans to quickly launch a spot Solana ETF with staking options. According to Bloomberg Intelligence analyst Eric Balchunas, the updated fund prospectus has already been submitted, and the U.S. Securities and Exchange Commission (SEC) no longer has significant objections to the documents. The launch of the new exchange-traded fund is expected to occur soon.
This is reported by Business • Media
Features of the New Solana ETF
In early June 2025, REX Shares and Osprey Funds submitted applications to launch two spot ETFs — based on Solana and Ethereum — that include a staking option. A distinguishing feature of these products is their structure as a C Corporation, which allows them to avoid the lengthy registration process under “Rule 19b-4.” Despite initial doubts from the SEC regarding the compliance of the stated classification, the updated documents were accepted by the regulator.
Preparation for Launch and Market Reaction
On June 28, 2025, a quick launch of the spot Solana ETF was announced on REX Shares’ official page on social media platform X. Eric Balchunas speculated that the issuing company successfully addressed all regulatory requirements and completed the necessary amendments. He later confirmed this with a message that included a screenshot of the official letter, indicating that everything is ready for the launch of the new product under the ticker SSK.
“REX Shares has also submitted an updated, fully completed issuance prospectus. Summarizing all this, it can be assumed that everything is ready for a quick launch. The ticker is SSK.”
After receiving final approval, the new ETF will be allowed to trade on the Cboe BZX exchange. However, there has not yet been a significant impact on the price of Solana (SOL) — market participants are awaiting more details regarding the trading start date.
Previously, during the application submissions, the companies planned to begin trading shares by mid-June 2025. Separately, analyst James Seyffart from Bloomberg Intelligence noted that REX Shares and Osprey Funds utilized a legal loophole in the classification of their ETFs, allowing them to bypass competitors in the approval process.