Rex Solana ETF has moved from a C-company to a Registered Investment Company (RIC). This is expected to restructure the cost structure and fit it with the upcoming Sot Solana Exchange-Traded Funds (ETFS).
The change, originally reported by Bloomberg ETF analyst Eric Bulknath, is intended to eliminate tax resistance that is currently affecting the fund’s performance.
Rex Solana ETF converts C Corp to registered Inv Co. This should eliminate tax resistance and make it more competitive with the upcoming tsunami of the Solana Spot ETF (all third amendment for approval (=virtual lock) @jseyff pic.twitter.com/nqigtpiiqo
– Eric Balchunas (@ericbalchunas) August 29, 2025
This conversion is done in the same way that Spot Solana ETF is on in the midst of approval. As Bloomberg ETF analyst Eric Balknath pointed out, the move is positioned to ensure that Rex Fund competes more effectively against costs once new spot products are released. The publisher submitted this week the third revision to the Spot Solana ETFS. This is a step that industry experts like James Seyffart see as a clear signal that approval is imminent.
The first ever Rex Osprey file for the US-based BNB staking ETF
The announcement of the conversion follows another development by Rex Shares and the Osprey Funds. The two companies have filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for what will be the country’s first BNB staking ETF.
According to the filing, the fund will list it on the CBOE BZX exchange and will custody its holdings with crypto custodians.
The proposed fund will be listed on the CBOE BZX Exchange and will wager a large portion of its assets to generate investors’ yields. The filing details how funds handle BNB bonding periods to manage their valiter relationships and maintain liquidity.
Related: Solana Staking Enters Wall Street: First US ETF SSK launch will be released with rewards in chains
BNB, the native token of the BNB chain, is the heart of transaction processing and governance over the network. Filing refers to the ongoing impact of Binance, but it sets parameters to manage validator relationships and maintain compliance with regulatory standards.
The submissions of Rex and Osprey show a broader expansion of crypto investment products. Asset managers such as Bitwise, Grayscale, Franklin Templeton, and Vaneck are all looking for ETFs linked to a wide range of digital assets.
Related: The rex-soprey file helps with 3% rebound of BNB for the second BNB staking ETF
With applications in the XRP, Dogecoin, Cardano, Avalanche, Hedera, Litecoin, and Polkadot pipelines, it is clear that in 2025 the market is entering a new phase of institutional adoption under a more encrypted regulatory environment.
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