Bloomberg ETF analyst James Seyffart announced an important development for the cryptocurrency market.
In a post on his social media account, Seyffart announced that the asset management company REXShares has submitted a valid prospectus for exchange-traded funds (ETFs) based on Solana (SOL) and Ethereum (ETH) staking.
Seyffart made the following statement in his statement:
“REXShares has filed a valid offering document for Solana and Ethereum staking ETFs to trade in the US. The launch date is not yet known, but could be in the next few weeks. These funds are uniquely structured 40-act funds and do not go through the 19b-4 process.”
They are funds regulated under the “40-act”, that is, the Investment Company Act of 1940. This law regulates investment funds and their relationships with investors in detail.
These ETFs operate under another SEC-approved framework (under the 1940 Act). They do not have to go through a separate process for exchange-traded approval, such as 19b-4.
*This is not investment advice.
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