Solana, Ethereum Staking ETFs Set to Launch
The first U.S. exchange-traded funds (ETFs) to track crypto prices and offer staking yields are set to launch soon after REX-Osprey resolved issues with the SEC. REX Shares and Osprey Funds filed in May for C-corporation ETFs to invest in Ethereum and Solana, staking some assets for more yield. The SEC initially raised concerns about their legality, but according to a recent filing, those have been resolved. The ETFs, trading under the tickers ESK for Ethereum and SSK for Solana, will list on Cboe BZX. REX Shares advertised the incoming Solana ETF without mentioning the Ethereum one, both under their respective tickers. Notably, these ETFs, structured as taxable C-corporations, offer staking benefits with internal tax before distributing dividends. This approach circumvents the usual approval process. Management fees are set at 0.75%, with overall fees likely higher due to tax accrual.
FAQ
❓ What makes these crypto ETFs unique?
They use a C-corporation structure to provide staking yields while managing tax internally.
❓ Where will the ETFs be listed?
Both ETFs will be listed on the Cboe BZX exchange.
❓ What are the tickers for the new ETFs?
The tickers are ESK for Ethereum and SSK for Solana.