Analysts are buzzing with anticipation as the launch of the first Solana staking ETF in the U.S. appears imminent. Recent developments suggest that the Securities and Exchange Commission (SEC) has resolved its concerns regarding the unique structure of the proposed ETF, paving the way for its debut.

REX Shares, in partnership with Osprey Funds, is poised to introduce the REX-Osprey SOL+Staking ETF, a groundbreaking product that will track Solana's performance and generate yield through on-chain staking. This ETF distinguishes itself by utilizing a C-corporation structure, an uncommon approach in the ETF world, to navigate regulatory hurdles.

Bloomberg ETF analyst Eric Balchunas has been closely following the developments, noting that the SEC has "no further comments" on the firms' filings, signaling a green light for launch. "So they are good to launch, it looks like. Wow," Balchunas remarked in a post on X. Similarly, ETF Store president Nate Geraci acknowledged the SEC's apparent comfort with REX Shares' "creative '40 Act structure".

The SEC had previously raised concerns about whether the proposed funds met the legal requirements for issuance due to their C-corporation business structure, which conflicted with the ETF rule. However, REX Shares has since addressed these concerns, submitting an updated prospectus that satisfies the regulatory requirements.

REX Shares has already begun promoting the upcoming ETF, with a "Coming Soon" campaign highlighting the "first-ever staked crypto ETF in the U.S.!". The fund is designed to track Solana's performance while generating income through on-chain staking. The ETF is expected to trade on the Cboe BZX exchange under the ticker SSK.

The potential launch of a Solana staking ETF has generated considerable excitement within the crypto community. Staking in crypto ETFs has been highly anticipated, as it allows investors to earn rewards for participating in the network's validation process. Moreover, the approval of a Solana ETF is expected to drive significant institutional inflows, potentially replicating the price surges seen with Bitcoin and Ethereum ETFs.

While REX-Osprey seem to be in the lead, several other firms are also vying to launch spot Solana ETFs, including Invesco and Galaxy Digital. As of late June 2025, there are at least nine applications under SEC review. Bloomberg analysts estimate a high probability of approval for these ETFs, with some suggesting that the SEC may act early on spot Solana and staking ETF filings.

The REX-Osprey ETF's unique C-corp structure allows it to bypass the standard 19b-4 filing process, potentially giving it a first-mover advantage. Under this structure, staking distributions to holders will be taxed inside the fund before being distributed as dividends. The management fees for both the ETH and SOL staking ETFs are set at 0.75%, though the income-tax accrual will likely result in higher overall fees.

The launch of a Solana staking ETF could have a ripple effect on the broader crypto market. The SEC's recent guidance on staking models, clarifying that staking itself does not automatically fall under securities regulations, has encouraged asset managers to explore new ETF strategies centered around income-generating digital assets.