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 EtheEthereum 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.

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Author: Oluwapelumi Adejumo

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