James Seyffart, a Bloomberg ETF analyst, says the first Solana Spot ETF with staking may be on the way soon. Seyffart mentioned in a post on X that it is possible the Solana Spot ETF could start trading even this week, marking a major milestone in the development of crypto-backed financial products.
It is developed by REX Shares as ETF and the documentation was made on June 28, 2025 under the title REX-Osprey SOL + Staking ETF. The fund has been described as coming soon by the company, the first Solana Spot ETF in the United States, is to provide an alternative to existing, and in many cases, crypto-based funds, which are already trading in the United States, extending further beyond the benefit of fund investors benefiting through price increases.
Why REX Chose Solana Spot ETF Structure
As opposed to the normal 19b-4 registration process that was followed by others in issuing an ETF, REX Shares applied the application via the C corporation structure under the Investment Company Act of 1940 or more commonly referred to as the 40 act.
According to analysts, this regulatory strategy has made the Solana Spot ETF more likely to be accepted earlier by the U.S. Securities and Exchange Commission (SEC), which allegedly has proven themselves to be eager to carry out the U.S. Securities and Exchange Commission (SEC)-regulated product, initially reluctant with it.
Nate Geraci, president of the ETF store, observed that the SEC seems to be getting more accustomed to the concept of launching the SOL + Staking ETF, which is within the scope of a Solana Spot ETF. The sentiment was echoed by other industry experts.
Just now REX submitted a letter to the SEC inquiring whether there are comments on their 40 Act Solana Staking ETF. This is of course an attempt at trying to get it to market before the spot ones, and I think that is the key to the advisory industry, said Bloomberg senior ETF analyst Eric Balchunas.
According to REX Shares would be the first staking-enabled crypto ETF in the U.S. The fund will purpose-build to closely follow the market value of Solana and at the same time allow passive earnings through on-chain staking, such that the fund will serve as a dual purpose Solana Spot ETF to the crypto-savvy investor.
The development has been met by swift response in the market. The price of Solana increased by 2%over the last 24 hours and crossed above $155, whereas daily trading amount soared by 45% to $3.66 billion. The expectations of the industry analysts are currently that the probability of a Solana Spot ETF being approved by the SEC in 2025 is about 95%.
With the interest of investors in crypto ETFs increasing dial, the move made by the REX shares may become a new precedent of how digital assets may be adopted in the existing financial markets. As is possible, this Solana Spot ETF will open a path towards similar ETFs in the emerging crypto investment scene.
