Latest news with #REXShares
Yahoo
02-07-2025
- Business
- Yahoo
Solana Staking ETF Opens for Trade, Becoming First Such U.S. Crypto Staking Product
REX Shares and Osprey Funds have selected Anchorage Digital as the exclusive custodian and staking partner for their newly launched REX-Osprey Solana + Staking ETF (SSK), the first crypto staking exchange-traded fund (ETF) listed in the U.S. The fund, which offers investors exposure to Solana (SOL) while generating staking rewards, began trading Wednesday on the Cboe exchange Wednesday at $25.47 per share. Unlike existing spot bitcoin and ethereum ETFs, which fall under different regulatory frameworks, SSK is registered under the Investment Company Act of 1940. That means a qualified custodian — not the fund issuer — is required to hold the underlying assets. Anchorage Digital, currently the only federally regulated bank authorized to both custody and stake digital assets, will fill that role. 'Staking is the next chapter in the crypto ETF story," said Nathan McCauley, CEO and co-founder of Anchorage Digital, in a release. "The launch of crypto staking ETFs marks a win for consumers and a significant step forward in full access to the crypto ecosystem." The ETF gives investors indirect exposure to Solana while also participating in the blockchain's staking mechanism, which provides additional yield by helping to secure the network. Staking allows holders of certain cryptocurrencies to earn rewards by locking their tokens into the network, a process that previously required technical know-how and direct interaction with crypto protocols. By packaging staking into an ETF structure, REX Shares and Osprey aim to make that process accessible to a wider range of investors through traditional brokerage accounts. SOL is higher by 2% over the past 24 hours to $150. The SSK launch comes as the crypto ETF market continues to evolve beyond bitcoin and ether, with issuers exploring new ways to bring blockchain-based products to regulated exchanges. The introduction of staking ETFs marks a new phase for the industry, combining income-generating features with exposure to digital assets, all within an SEC-regulated investment in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
02-07-2025
- Business
- Business Wire
REX-Osprey™ Launches First U.S. ETF with Solana Exposure plus Staking Rewards
MIAMI--(BUSINESS WIRE)--REX-Osprey™, a strategic collaboration between REX Shares and Osprey Funds, today announced the launch of SSK, the REX-Osprey ™ Solana + Staking ETF, the first U.S.-listed ETF to give investors exposure to Solana (SOL) plus staking rewards in their securities brokerage accounts. SSK provides investors with cost-effective and convenient exposure to Solana (SOL) by offering primarily spot SOL exposure—avoiding the negative effects of contango that can impact futures-based ETFs. In addition to this direct exposure, the fund also delivers the benefits of SOL staking, which currently offers a reward rate of 7.3%. The fund seeks to hold the majority of its assets in directly staked SOL, 40% of its assets in exchange-traded products that themselves stake SOL, and a small amount of its assets in liquid staking tokens like JitoSOL.) Importantly, all staking rewards received by the fund are passed directly to investors, with neither REX nor Osprey retaining any portion. An investment in the Fund is not a direct investment in Solana. Investing involves significant risk, including the possible loss of principal. "This is a major milestone for ETFs and the crypto industry, and a pioneering expansion in how securities investors can access crypto investments and blockchain-native returns," said Greg King, CEO of REX Financial. "With SSK, we're giving investors Solana staking rewards in a familiar ETF format—something that's never been done before in the U.S. market. We've essentially built a bridge between the world of TradFi securities investments and the world of crypto investments." SSK is designed to serve both retail and institutional investors. Unlike other crypto products that rely on derivatives or just provide spot crypto exposure, SSK participates directly in native Solana staking, ensuring that rewards are sourced from the blockchain protocol itself, and SSK also participates indirectly in staking by holding exchange-traded products that themselves hold staked SOL. This allows investors to take part in Solana's network economics while maintaining the convenience and transparency of an ETF. About REX-Osprey REX-Osprey is a joint initiative between REX Financial, a leader in thematic and alternative ETFs, and Osprey Funds, a digital asset specialist focused on crypto access and infrastructure. Together, REX-Osprey develops products that combine the integrity of traditional financial structures with the transformative potential of blockchain technology. Important Risks An investor should carefully consider the Fund's investment objective, risks, charges, and expenses before investing. The Fund's prospectus and summary prospectus contain this and other information about REX Shares. To obtain the Fund's prospectus and summary prospectus, call 1-844-802-4004. The Fund's prospectus and summary prospectus should be read carefully before investing. THE FUND, TRUST, ADVISER, AND SUB-ADVISER ARE NOT AFFILIATED WITH SOLANA OR ANY ENTITY PROVIDING VALIDATION OR STAKING SERVICES. Crypto Asset Risk. The Fund holds SOL tokens, a crypto asset that is native to the Solana blockchain. Crypto assets are subject to extreme volatility, regulatory uncertainty, market manipulation, security risks, and technological changes. The value of the Fund will fluctuate with the price of SOL, which is influenced by a range of factors including adoption of the Solana network, network congestion, smart contract failures, validator misbehavior, and the emergence of competing platforms. Additionally, crypto asset exchanges and counterparties may be less regulated than traditional financial institutions, and are subject to fraud, hacking, and operational disruptions. SOL Risk. The Fund's investments in SOL (the Reference Asset) and SOL futures contracts expose the Fund to the risks associated with an investment in SOL because the price of these derivatives is substantially based on the price of SOL. SOL is a relatively new innovation and is subject to unique and substantial risks. The market for SOL is subject to rapid price swings, changes and uncertainty. Staking Risk. When the Fund stakes the Reference Asset, the Reference Asset is subject to the risks attendant to staking generally. Staking requires that the Fund lock up the staked Reference Asset for the period of time required by the staking protocol, meaning that the Fund cannot sell or transfer the staked Reference Asset, thereby making it illiquid for the period it is being staked. In addition, during the lock-up period, the Fund is subject to the market price volatility of the Reference Asset, and it may miss opportunities to sell the staked Reference Asset during opportune times. During the unstaking period, the Fund may miss out on earning opportunities because, in some cases, the staked Reference Asset may not earn rewards during the unstaking period or may only earn rewards during part of the unstaking period. Staked Reference Assets are also subject to security breaches, network downtime or attacks, smart contract vulnerabilities, and validator or custodian failure or compromise, which can result in a complete loss of the staked Reference Asset or a loss of any rewards. Concentration Risk. The Fund's assets will be concentrated in the sector or sectors or industry or group of industries that are assigned to the Reference Asset, which will subject the Fund to the risk that economic, political or other conditions that have a negative effect on those sectors and/or industries may negatively impact the Fund to a greater extent than if the Fund's assets were invested in a wider variety of sectors or industries. Liquidity Risk. The Fund may not be able to sell its crypto assets at the time or price it desires. Crypto asset markets may be less liquid than traditional securities markets and may be subject to significant price fluctuations. New Fund Risk. The Fund is a newly organized investment company with no operating history. Investors have limited performance history to assess how the Fund will perform. Counterparty Risk. The Fund may rely on staking infrastructure providers, custodians, and crypto exchanges to hold or interact with its SOL. These third parties may become insolvent, fail to safeguard assets, or be subject to regulatory action, leading to potential losses. Smart Contract Risk. Certain staking activities or custodial processes may rely on smart contracts. These self-executing code structures are susceptible to bugs, hacking, or unintended behavior. Exploits in smart contracts could cause loss of assets or incorrect reward distribution. Contango is when futures contracts trade at progressively higher prices the further out in time they are set to expire. Staking Rewards are the incentives or payments earned by participants who commit (or "stake") their cryptocurrency tokens to help support the operations and security of a blockchain network, typically one that uses a Proof-of-Stake. Distributor: Foreside Fund Services, LLC, member FINRA, not affiliated with REX Shares, Osprey Funds, or the Fund's investment adviser.
Crypto Insight
01-07-2025
- Business
- Crypto Insight
First US staking ETF to launch Wednesday, giving investors exposure to Solana
The first US-staked cryptocurrency exchange-traded fund (ETF) will launch on Wednesday, allowing investors to hold Solana and earn yield through staking. Two days after Cointelegraph reported that the REX-Osprey Solana and Staking ETF could launch imminently, issuer REX Shares confirmed on Monday that the fund is set to debut. As the name suggests, the REX-Osprey fund will give investors direct exposure to spot SOL along with staking income, potentially paving the way for broader institutional adoption of crypto. The launch follows REX's updated prospectus and positive feedback from the US Securities and Exchange Commission (SEC) regarding its unique C-Corp business structure — an arrangement the regulator had previously argued conflicted with the so-called ETF rule. The SEC ruled in May that staking does not violate securities laws, but still decided to punt its decision on staked ETFs and other altcoin funds. SOL price extends rally The price of Solana rose shortly after the ETF news, climbing 6% to around $158, according to Cointelegraph. With this gain, SOL is now up more than 12% over the past seven days. Despite the rally, SOL remains 46% below its all-time high from January, according to CoinGecko data. At its current price, Solana has a market capitalization of $83.5 billion, making it the sixth-largest cryptocurrency. Some analysts have speculated that the approval of Solana ETFs could spark an 'altcoin summer' fueled by new altcoin-focused funds. Bloomberg senior ETF analyst Eric Balchunas noted in June that several such funds were on track for approval by July, with Solana likely 'leading the way.' Solana has also gained momentum in the decentralized exchange (DEX) market, with its DEX volumes recently surpassing those of Ethereum. Raydium, and Orca have been major contributors to this surge, according to Cointelegraph and TradingView data. Source:
Crypto Insight
29-06-2025
- Business
- Crypto Insight
‘All systems go' for Solana staking ETF to launch any moment: Analysts
ETF provider REX Shares is on the verge of launching the first-ever Solana staking exchange-traded fund (ETF), following what analysts describe as a successful response to feedback from the US Securities and Exchange Commission (SEC). '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,' ETF analyst Eric Balchunas said in an X post on Friday. SEC 'comfortable' with the unique ETF structure ETF Store president Nate Geraci said in an X post on the same day that it looks like the SEC are open to REX Shares incredibly rare c-corp business structure used in the fund, which the SEC previously argued conflicts with the 6C-11 rule, also known as 'the ETF rule.' 'Looks like they're comfortable pushing forward w/ their creative '40 Act structure,' Geraci said. 'Here we go,' he added. He previously said on May 29 that REX Shares had taken 'the regulatory end-around' with this approach. Echoing Geraci's sentiment, ETF analyst James Seyffart said the way that REX Shares structured their Solana staking ETF proposal was 'very rare in the ETF world' as it bypasses the standard 19b-4 filing process that most other crypto ETF providers have used for staking proposals, which are all still awaiting a decision from the SEC. Analysts say the SEC's comments have been addressed Geraci said, 'Looks like they believe comments have been resolved.' 'Crypto ETF summer commences,' he added. Balchunas cited an email screenshot to confirm that REX Shares have addressed the SEC's comments. 'So they are good to launch, it looks like. Wow,' Balchunas added. In a post on the same day, REX Shares said that 'the first-ever staked crypto ETF' in the US is coming soon. Staking in crypto ETFs has been highly anticipated by the industry REX Shares explained that its REX-Osprey SOL and staking ETF is designed to track the performance of Solana while generating yield through onchain staking. 'A new era of yield-generating crypto exposure is here,' REX Shares said. Staking has been a long-awaited feature by many ETF spectators in the industry. On March 20, BlackRock's head of digital assets, Robbie Mitchnick, described the firm's Ether ETF as a 'tremendous success' but acknowledged that the ETF is 'less perfect' without staking. Source:
