REX Shares and Osprey Funds File for Ethereum, Solana Staking ETFs
- New Ethereum and Solana staking ETFs proposed.
- Anchorage Digital offers custodial support.
- Staking ETFs could boost crypto market exposure.
REX Shares and Osprey Funds have taken a step forward by filing an application to the U.S. SEC, aiming to launch the first-ever staking ETFs for Ethereum and Solana. Anchorage Digital, known for being the only federally chartered bank approved for staking, is providing custodial support for these ETFs. Nathan McCauley, CEO of Anchorage Digital, emphasized this by stating:
“Staking is the next chapter in the crypto ETF story… as home to the only federally chartered bank approved for staking, Anchorage Digital is proud to be the qualified custodian of choice for ETF issuers.”
The proposed funds will invest significantly in their respective cryptocurrencies and stake a substantial portion of their allocations. This structure aims to offer shareholders access to staking rewards indirectly.
The introduction of these ETFs has the potential to enhance market exposure for cryptocurrency stakeholders in the U.S., providing a regulated avenue to engage with staking activities. Financial dynamics might shift as a result, enticing institutional investors and increasing liquidity in ETH and SOL markets.
Certain financial, regulatory, and technological factors could be influenced significantly. As James Seyffart, an ETF analyst at Bloomberg, noted, these unique fund structures don’t follow the traditional “19b-4” process, potentially expediting their rollout.
Historical trends suggest similar ETFs could lead to increased inflows and asset growth within Layer 1 networks.
