Rex’s stock appears to be on the verge of launching the Solana ETF after receiving an important response from the US Securities and Exchange Commission (SEC).
On June 27, the company wrote regulators to see if it resolved all concerns related to the Solana and Etheethereum staking ETFs.
SEC clears the SolanaETF method that first immerses you as Rex shares the preparation
The SEC responded without further comment, sparking optimism that the launch could be approaching.
Industry analysts believe this will allow Rex stock to launch the country’s first crypto ETF to track staking rewards on the Solana blockchain.
Bloomberg ETF expert Eric Balknass has shown that the SEC lack of objections is significant. According to him, this means that the proposal is likely to receive approval soon.
“Rex also submitted an updated prospectus, which was fully filled out. It adds all of it and looks like all the systems are going for an imminent launch. $SSK is a ticker,” says Balchunas.
Interestingly, Rex Shares has begun marketing its products as the first Crypto ETF in the US. According to the company, the product tracks Solana’s performance while generating yield through on-chain staking.
It should be noted that the SEC has not yet issued a formal approval for the product.
If approved, this will ensure that competitors will still be the first company to offer staking-based Crypto ETFs before they pursue Spot Solana products.
Meanwhile, ETF Store president Nate Geraci noted that such a move could serve as a catalyst for the industry. He pointed out that this might encourage other applicants to explore dyed cryptographic products.
“It appears they believe the comments have been resolved… Crypto ETF summer is beginning,” he added.
The development follows the SEC’s notable regulatory progress last month. At the time, the institution said that only the model did not automatically fall under the securities law.
It also revealed that additional features such as bundled services and early reimbursement options do not necessarily change their status.
As a result, this guidance encourages some asset managers to reconsider their ETF strategies.
Many are currently submitting new proposals focused on digital assets that generate income.
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