Rex Shares Presses the SEC on Staked Solana ETF Approval, Says ‘Coming Soon’

Asset manager Rex Shares is pushing for the approval of its staked Solana ETF filing with the US Securities and Exchange Commission (SEC). In its latest letter to the Commission, the asset manager asked the Commission if the comments on its ’40 Act Solana Staking ETF have been resolved or not. Bloomberg ETF strategist Eric Balchunas said that there are no further comments, thereby increasing the approval odds.

Rex Shares Ready to Bring First Staked Solana ETF in the US

Asset manager Rex Shares is gearing up for the upcoming launch of the REX-Osprey™ SOL + Staking ETF, the first staked crypto ETF in the country. This groundbreaking Solana ETF fund will offer exposure to SOL while simultaneously generating yield through on-chain staking.

Key features of the REX-Osprey™ SOL + Staking ETF include:

• SOL Exposure: Direct tracking of Solana’s market performance.
• Staking Rewards: Yield generation through Solana’s on-chain staking mechanisms.

The latest S&P Global report shows that the response to Bitcoin and crypto ETFs is amazing, which could pave the path for faster approval moving ahead.

Approval Odds for SOL ETF Increase to 92%

As per the Polymarket data, there’s an 18% jump in the approval odds for Solana ETF, shooting past 92%. Bloomberg has also previously predicted a 90% approval chance by December 31, 2024.

Bloomberg’s senior ETF strategist Eric Balchunas confirmed that there are no further comments from the SEC on the Rex Shares staked Solana ETF filing. “So they are good to launch, it looks like. Wow,” he added. Amid the growing optimism of approval, the Solana whale activity has also surged, moving a massive $1.3 billion SOL earlier this week.

Crypto ETF Summer Begins, Says Expert

Amid major breakthrough developments with the end of the XRP lawsuit on Friday, ETF Store president Nate Geraci said that the crypto ETF summer officially begins, opening the gates for XRP ETF, Solana ETF, and other altcoin ETFs.

Following the recent development, Solana price is seeing an uptick of 1.5% trading at $145 as of press time. Furthermore, the trading volume for Solana futures on CME hit a record high of $1.75 billion earlier this week. Citing an opportunity here, Robinhood also jumped into the competition, launching trading of Solana Futures on Friday.