REX Shares Submits Solana and Ethereum Pledged ETF Prospectus, Expecting US Listing in Weeks

Bloomberg analyst James Seyffart said on the X platform that REX Shares has filed prospectuses for Solana and Ethereum-pledged ETFs, which are products under the 1940 Act and use a C-type corporate structure rather than the traditional 19b-4 process, and are expected to list on the US market in the coming weeks. "This could be a way to get some level of approval from the SEC." Mr. Seyffart noted that the ETF would gain exposure to SOL and ETH through its Cayman subsidiary, adding that "this is a series of clever legal and regulatory evasion strategies used to bring these products to market". "Even if more efficient structures emerge in the future, this could be the first way to go live," Mr. Seyffart added.