A very rare Ethereum and Solana staking ETF is about to be launched.

The first Ethereum and Solana staking ETFs could launch in the United States within the next few weeks, after ETF provider REX Shares filed using "existing regulatory loopholes," according to an assessment by ETF analysts.

The staking component has long been anticipated for spot Ethereum ETFs since their launch in July 2024, as many industry leaders believe that the product will not be truly complete without this element.

The REX Shares profile has a "unique structure"

"These ETFs are structured as C-corporations (, which is extremely rare in the ETF world. I'm not sure about the specific launch date, but it could be in the coming weeks," ETF analyst James Seyffart shared in a post on X on May 30.

In the filing, REX Shares explains that the fund is classified as a C-corp for tax purposes, so current tax expenses and deferred taxes will arise. These tax obligations, if any, will be reflected in the net asset value (NAV) of the fund.

!)(https://img.gateio.im/social/moments-25f1b5a7e82ffc3351a32a3d8325f595)The tax component in the ETF filing of REX Shares | Source: James SeyffartSeyffart explains that the Ethereum and Solana staking ETF proposed by REX Shares "are funds under the 40 Act with a special structure and do not need to go through the 19b-4 process."

This information emerged after the SEC delayed its decision on Bitwise's application to add staking features to its Ethereum ETF on May 21. At that time, Seyffart stated that the delay was anticipated as the SEC often requires the full allowed time to respond to filings under the 19b-4 process.

Two crypto ETFs "set to launch"

Seyffart stated that the funds will directly access ETH and SOL through a subsidiary in the Cayman Islands.

"Assuming they are actually launched in the near future, all of this is a series of clever legal loopholes to bring the product to market. That structure has its pros and cons, but one clear advantage is gaining some level of approval from the SEC," Seyffart noted.

Sharing a similar view, ETF Store Chairman — Nate Geraci stated that REX Shares has used a "legal loophole."

"It seems that two crypto ETFs are about to launch, and both aim to stake at least 50% of the amount of SOL and ETH," Geraci commented.

This is a feature that many in the industry have long awaited. On March 20, BlackRock's head of digital assets, Robbie Mitchnick, referred to the company's Ethereum ETF as a "breakthrough success" but also acknowledged a key limitation. Mitchnick stated that the ETF would be less than perfect without staking.

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