REX Shares and Osprey Funds have announced the imminent launch of a spot exchange-traded fund (ETF) based on Solana, which will include staking options. It is known that the companies submitted an updated prospectus to the U.S. Securities and Exchange Commission (SEC), after which the regulator did not express any further objections to the documentation.
This is reported by Finway
Structure of the New Solana ETF and Legal Features
The uniqueness of the upcoming product lies in its structure — both ETFs, for Solana and Ethereum, are set up as C Corporations. This allows the companies to avoid the lengthy registration process stipulated by “Rule 19b-4,” significantly speeding up the launch process. Applications for such ETFs were submitted in June 2025.
The SEC initially had doubts about the compliance of these financial instruments with the claimed classification; however, the documents were accepted for review. This marked a significant step for market participants, as similar products had not previously received such swift approval.
Expert Predictions and Market Expectations
Bloomberg Intelligence analyst Eric Balchunas predicted that the launch of the spot Solana ETF could happen very soon. According to him, all necessary amendments to the regulatory documentation have been made, and the company is ready to launch the new financial instrument. He also published a relevant screenshot of correspondence with the SEC, confirming the transparency and completion of all procedures.
“REX Shares has also submitted an updated, fully completed prospectus. Summarizing all this, one can assume that everything is ready for a quick launch. The ticker is SSK.”
Once approved, the ETF will trade on the Cboe BZX exchange under the ticker SSK. Despite positive expectations regarding the launch, the Solana (SOL) market has not yet shown a significant reaction, which may be related to the lack of a specific start date for trading the new fund.
The initial plans of REX Shares and Osprey Funds anticipated launching ETF trading by mid-June 2025. Another Bloomberg Intelligence analyst, James Seyffart, noted that the companies utilized legal features of classification to gain an advantage over competitors and expedite the approval process.