{"id":12598,"date":"2025-05-31T03:04:34","date_gmt":"2025-05-31T01:04:34","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=12598"},"modified":"2025-05-31T03:04:34","modified_gmt":"2025-05-31T01:04:34","slug":"anticipated-launch-of-unique-staking-etfs-for-eth-and-sol-may-be-just-around-the-corner","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/31\/anticipated-launch-of-unique-staking-etfs-for-eth-and-sol-may-be-just-around-the-corner\/","title":{"rendered":"“Anticipated Launch of Unique Staking ETFs for ETH and SOL May Be Just Around the Corner”"},"content":{"rendered":"

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The initial Ethereum and Solana staking exchange-traded funds (ETFs) may emerge in the United States within weeks, following a recent submission from ETF provider REX Shares that utilized \u201cregulatory workarounds,\u201d according to ETF experts.<\/p>\n

The staking element has been eagerly awaited for spot Ether (ETH<\/a>) ETFs since their inauguration in July 2024, with some industry leaders suggesting the product feels unfinished without it.<\/p>\n

REX Shares submissions exhibit a \u201cdistinct structure\u201d<\/h2>\n

\u201cThese ETFs are organized as c-corps, which is quite unusual in the ETF landscape,\u201d ETF analyst James Seyffart stated<\/a> regarding the REX Shares submission in a May 30 X post.<\/p>\n

\u201cWhile I don’t know the launch date, it could occur within the next few weeks.\u201d<\/p><\/blockquote>\n

REX Shares clarified in the submission that the fund \u201cis designated as a C-corporation for tax reasons, and, accordingly, will incur both current and deferred tax obligations. Any current or deferred tax liabilities, if applicable, will be reflected in the Fund\u2019s Net Asset Value.\u201d<\/p>\n

ETF analyst James Seyffart emphasized the tax aspects in the REX Shares ETF submission. Source: <\/em>James Seyffart<\/em><\/a><\/figcaption><\/figure>\n

Seyffart noted that the proposed Solana (SOL<\/a>) and Ether staking ETFs by REX Shares \u201care 40-act funds with a distinctive structure and do not undergo the 19b-4 process.\u201d<\/p>\n

This follows the SEC postponing its verdict on Bitwise\u2019s request to incorporate staking into its Ether ETF on May 21. At that time, Seyffart mentioned that the delay was anticipated as the SEC<\/a> \u201ctypically utilizes the full timeframe to respond to a 19b-4 submission.\u201d<\/p>\n

The release of two crypto ETFs \u201cis imminent\u201d<\/h2>\n

Seyffart indicated that the funds will acquire spot exposure to Ether and Solana \u201cthrough Cayman subsidiaries.\u201d<\/p>\n

\u201cAll of this, assuming they are launched soon, is a series of clever legal and regulatory workarounds to bring these products to the market,\u201d Seyffart remarked.<\/p>\n

Related: <\/strong><\/em>Bitcoin ETFs experience first joint outflow in two weeks, but BlackRock defies trends<\/strong><\/em><\/a><\/p>\n

\u201cThere are advantages and disadvantages to the structure, but it appears one benefit is that this was a way to secure some form of approval from the SEC,\u201d Seyffart commented. <\/p>\n

In a similar vein, ETF Store President Nate Geraci noted<\/a> that REX Shares opted for \u201cthe regulatory end-around.\u201d<\/p>\n

\u201cIt appears that the launch of two crypto ETFs is near,\u201d Geraci mentioned, stating that both ETFs aim to stake \u201cat least 50%\u201d of Solana and Ether.<\/p>\n

This has been a highly anticipated feature for many in the field. On March 20, BlackRock\u2019s head of digital assets, Robbie Mitchnick, referred to the firm\u2019s Ether ETF as a \u201cremarkable success\u201d but acknowledged a significant limitation<\/a>. Mitchnick remarked that the ETF is \u201cless ideal\u201d without staking.<\/p>\n

Magazine: <\/strong><\/em>Coinbase hack illustrates that the law likely won\u2019t shield you: Here\u2019s why<\/strong><\/em><\/a><\/p>\n