The SEC questions the legality of REX's submitted Ethereum and Solana staking ETFs

ChainCatcher news, according to Bloomberg, the U.S. SEC has expressed doubts about the Ethereum and Solana staking ETFs launched by REX Shares and Osprey Funds, believing they may not comply with the definition of investment companies and ETFs under the Securities Act.

The U.S. SEC stated that these funds may have "incorrectly submitted their registration statements," and that "the disclosures in the registration statements regarding these funds' status as investment companies may be misleading."

REX Financial's General Counsel Greg Collett said, "We believe we can satisfy the SEC's concerns regarding investment companies, and we do not intend to launch the funds until we do so."