SEC Warns Staked Solana And Ethereum Funds May Not Qualify As ETFs

Asset manager RexShares’ move to become the first to launch a staked Solana and Ethereum fund in the US has hit a roadblock. The US Securities and Exchange Commission (SEC) sent a letter explaining why these funds may not qualify as ETFs. SEC Replies To RexShares On Staked Solana & Ethereum Funds According to a Bloomberg report, the SEC sent a letter to ETF Opportunities Trust, the entity that issues several ETFs, including the ones Rex Shares manages, stating that the staked Solana and Ethereum funds may fail to meet the legal definition of an investment company, which is a requirement for them to list on the stock market. The Commission said that it was concerned that RexShares improperly filed the registration statements for these funds and that the disclosures in these statements describing them as investment companies may be “potentially misleading.” As CoinGape reported, the asset manager had chosen… Read More at Coingape.com

The post SEC Warns Staked Solana And Ethereum Funds May Not Qualify As ETFs appeared first on CoinGape.