REX-Osprey Ethereum and Solana stake ETF may be launched, and the SEC has not raised objections.

According to Gate News bot, as reported by Crypto Briefing, ETF provider REX Financial and asset management company Osprey Funds may soon launch the first stake-based Ethereum (ETH) and Solana (SOL) ETFs in the United States, following new progress in their regulatory process.

According to Bloomberg ETF analyst Eric Balchunas, the U.S. Securities and Exchange Commission (SEC) stated in a statement on June 27 that there are "no further comments" on the application documents from these companies.

This update is in response to the request submitted by REX and Osprey to the United States Securities and Exchange Commission (SEC), which aims to confirm that all officials' opinions regarding their stake in Ethereum and Solana ETF have been addressed.

REX and Osprey applied for a stake SOL and ETH ETF in late May, proposing an ETF structure that allows funds to hold and stake these two mainstream crypto assets, and distribute staking rewards to shareholders.

However, the SEC immediately expressed concerns that the funds proposed by REX and Osprey, which adopt a unique C-corporation business structure, may not qualify as ETFs under existing rules. This structure conflicts with the ETF rules that stipulate acceptable corporate forms for ETFs.

Despite regulatory hurdles, industry professionals still hope that the issues can be resolved, allowing these funds to bring new liquidity to the crypto market.

Balchunas stated: "The U.S. Securities and Exchange Commission has not made any further comments, so it seems they are ready to launch these products."

REX and Osprey have also stated that they are ready in terms of products. Their recently launched "coming soon" campaign highlights the upcoming ETH and SOL stake ETFs on their website, but no official confirmation has been released regarding approval or launch dates.

The SEC has indicated that it may approve a Solana ETF later this year, having recently requested amendments to the wording regarding physical redemptions and stake practices, signaling an increasing openness to incorporating staking into the ETF structure.

All seven asset management companies seeking to launch a Solana ETF (including Grayscale, VanEck, 21Shares, Canary Capital, Bitwise, and Franklin Templeton) have updated their filings to incorporate staking features in response to feedback from the SEC.