SEC Moves Closer to Approving Staked Solana ETF

REX Shares appears to be on the brink of launching a staked Solana ETF after receiving a key response from the US Securities and Exchange Commission (SEC).

On June 27, the firm wrote the regulator to confirm whether it had resolved all concerns related to its proposed Solana and Ethereum staking ETFs.

SEC Clears Way for First Staked Solana ETF as REX Shares Readies Launch

The SEC responded without further comments, sparking optimism that a launch could be near.

Industry analysts believe this could allow REX Shares to launch the country’s first crypto ETF that tracks staking rewards on the Solana blockchain.

Bloomberg ETF expert Eric Balchunas indicated that the SEC’s lack of objections is significant. According to him, this means that the proposal will likely receive approval soon.

“Rex also filed an updated prospectus, which totally filled in. Add it all up and it appears as though all systems go for imminent launch. $SSK is the ticker,” Balchunas said.

Interestingly, REX Shares has begun marketing the product as the first-ever staked crypto ETF in the US. According to the firm, the product will track Solana’s performance while generating yield through on-chain staking.

Rex now putting out a “coming soon” tweet. No date but clearly they pushing fwd, assuming comments resolved ht

— Eric Balchunas June 27, 2025

It should be noted that the SEC has yet to issue a formal approval for the product.

If approved, this would position the firm to be the first to offer a staking-based crypto ETF, ahead of competitors still pursuing spot Solana products.

Meanwhile, Nate Geraci, president of ETF Store, pointed out that such a move could serve as a catalyst for the industry. He noted that this may encourage other applicants to explore staked crypto offerings.

“Looks like they believe comments have been resolved…Crypto ETF summer commences,” he added.

This development follows the SEC’s notable regulatory progress last month. At the time, the agency stated that staking models alone do not automatically fall under securities laws.

It also clarified that extra features such as bundled services or early redemption options do not necessarily alter that status.

As a result, this guidance has encouraged several asset managers to revisit their ETF strategies.

Many have now submitted new proposals focused on income-generating digital assets.