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06/12 12:59

SEC pushes back on Ethereum and Solana ETF plans b

SEC pushes back on Ethereum and Solana ETF plans by REX-Osprey

The SEC has raised serious legal questions about the proposed Solana and Ethereum ETFs by REX Shares and Osprey Funds.
Solana (SOL) and Ethereum (ETH) exchange-traded funds have stumbled on a major regulatory roadblock. In a filing dated May 30, the U.S. Securities and Exchange Commission flagged legal concerns regarding the proposed REX Shares and Osprey Funds ETFs.
The agency highlighted seven ETFs, including the REX-Osprey ETH ETF and REX-Osprey SOL ETF, citing “unresolved questions” surrounding their legal structure. Specifically, the SEC questioned whether these funds, as currently structured, qualify as “investment companies.”
For a fund to meet that definition, it must primarily invest or trade in securities, or have securities make up at least 40% of its assets. As such, the SEC indicated that the Form N-1A filing submitted may .

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