<\/p>\n
The first Ethereum and Solana staking exchange-traded funds (ETFs) could debut in the United States within a matter of weeks, following a recent filing by ETF provider REX Shares that used \u201cregulatory workarounds,\u201d according to ETF analysts.<\/p>\n
The staking component has been highly anticipated for spot Ether (ETH<\/a>) ETFs since their launch in July 2024, with some industry executives arguing the product feels incomplete without it.<\/p>\n \u201cThese ETFs are structured as c-corps. Which is very rare in the ETF world,\u201d ETF analyst James Seyffart said<\/a> of the REX Shares filing in a May 30 X post.<\/p>\n \u201cDon\u2019t know the launch date, but it could be within the next few weeks.\u201d<\/p><\/blockquote>\n REX Shares explained in the filing that the fund \u201cis classified as a C-corporation for tax purposes, and, as such, will incur current and deferred tax expenses. Such current or deferred tax liabilities, if any, will be reflected in the Fund\u2019s Net Asset Value.\u201d<\/p>\n Seyffart explained that REX Shares proposed Solana (SOL<\/a>) and Ether staking ETFs \u201care 40-act funds with a unique structure and do not go through the 19b-4 process.\u201d\u00a0<\/p>\n It comes after the SEC delayed its decision on Bitwise\u2019s application to add staking to its Ether ETF on May 21. At the time, Seyffart said the delay was expected because the SEC<\/a> \u201ctypically takes the full time to respond to a 19b-4 filing.\u201d<\/p>\n Seyffart said the funds will gain spot exposure to Ether and Solana \u201cvia Cayman subsidiaries.\u201d<\/p>\n \u201cAll of this, assuming they launch in the near future, is a bunch of clever legal and regulatory workarounds to get these products to market,\u201d Seyffart said.<\/p>\n Related: <\/strong><\/em>Bitcoin ETFs have first joint outflow in 2 weeks, but BlackRock bucks trend<\/strong><\/em><\/a><\/p>\n \u201cThere are pros and cons to the structure, but it looks like one pro is that this was one way to get some level of signoff from the SEC,\u201d Seyffart said. <\/p>\n Echoing a similar sentiment, ETF Store President Nate Geraci said<\/a> Rex Shares took \u201cthe regulatory end-around.\u201d<\/p>\n \u201cLooks like two crypto ETF launches are imminent,\u201d Geraci said, explaining that both ETFs are seeking to stake \u201cat least 50%\u201d of Solana and Ether.<\/p>\n It has been a long-awaited feature by many in the industry. On March 20, BlackRock\u2019s head of digital assets, Robbie Mitchnick, described the firm\u2019s Ether ETF as a \u201ctremendous success\u201d but acknowledged a key limitation<\/a>. Mitchnick said that the ETF is \u201cless perfect\u201d without staking.<\/p>\nREX Shares filings have a \u201cunique structure\u201d<\/h2>\n
The two crypto ETF launches \u201care imminent\u201d<\/h2>\n