My dear readers, it appears that an event of some considerable interest is upon us—namely, the potential advent of Ethereum and Solana staking exchange-traded funds (ETFs) within the United States, and all this, darling, in a matter of weeks! The recent submission by REX Shares has set the entire financial society abuzz, employing what some might call “regulatory workarounds,” which is evidently a most novel approach in such matters. Who knew that bending the rules could be so exciting? 💼😉
The anticipation surrounding the inclusion of staking features in Ether ETFs has been nothing short of monumental since their initial launch in July of 2024—an event, I dare say, that left many feeling that the product was sorely lacking without this vital ingredient. How very modest of them, truly! 🧐
REX Shares Filings Are Quite the Curiosity
According to Monsieur James Seyffart, an analyst of no small repute, these ETFs are fashioned as “c-corps,” a form very rare in the domain of exchange-traded funds—truly, quite the novelty, dare I say, a little eccentric. And, dear reader, he mentions that “they are not certain of the launch date, but it could be as soon as the next few weeks.” One can hardly contain their curiosity—how exciting! 🎉
In their explanatory missive, REX Shares states that their fund “is classified as a C-corporation for tax purposes,” which means they must deal with “current and deferred tax expenses.” Oh, the glamour of tax liabilities—who knew investing could be so chic? 💸
Mr. Seyffart further observes that these Solana (SOL) and Ether staking ETFs are “40-act funds,” sporting a “unique structure” and not subjected to the usual “19b-4 process.” Truly, a marvel of legal ingenuity! And this all follows the SEC’s delay on Bitwise’s application to add staking features in May—because, naturally, the SEC takes its time, much like a slow-moving gentleman adjusting his cravat. 🕰️
Hooray! The Crypto ETF Launches Are Just Around the Corner!
He assures us that these funds will provide “spot exposure to Ether and Solana through Cayman subsidiaries,” which sounds quite posh, does it not? And Seyffart quips that these are “quite clever legal and regulatory workarounds,” perhaps a touch of sarcasm with a side of admiration. No doubt, the goal here is to secure some sort of blessing from the SEC—how very diplomatic! 🤝
Similarly, Mr. Geraci, President of ETF Store, remarks that REX Shares has managed an “end-around” of regulations—truly a masterstroke! It seems we are to expect at least two crypto ETFs to “stake at least 50% of Solana and Ether,” a prospect that has kept many an industry enthusiast awake at night, I daresay. 📊
The longing for such features has been longstanding; back in March, Robbie Mitchnick of BlackRock called their Ether ETF “tremendous,” though he admits it remains “less perfect” without staking—truly, perfection is a journey, not a destination, my dear reader. 😉
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2025-05-31 04:04