The ETFs, named the Rex-Osprey ETH + Staking ETF (ticker: ESK) and the Rex-Osprey SOL + Staking ETF (ticker: SSK), will be listed on Nasdaq. Unlike spot bitcoin ( BTC) or ethereum ( ETH) ETFs, these funds operate under the Investment Company Act of 1940 (40-Act), allowing them to bypass the lengthy 19b-4 approval process required for most crypto products.

The funds aim to provide investors with exposure to ethereum ( ETH) and solana ( SOL) while staking a portion of their holdings to generate rewards. Staking involves locking up crypto assets to support blockchain operations in exchange for yields. The ETH ETF will target staking at least 50% of its holdings, while the SOL ETF follows a similar strategy.

Bloomberg Intelligence’s ETF analyst James Seyffart first reported on the funds. Rex Shares’ structure includes Cayman Islands-based subsidiaries to hold the underlying assets, a common approach for crypto funds to navigate regulatory constraints. However, the ETFs will be taxed as C-corporations, unlike traditional ETFs, due to their concentrated holdings in crypto assets.

The prospectus outlines an annual expense ratio of 1.28% for the ETH ETF and 1.40% for the SOL ETF, inclusive of a 0.75% management fee and estimated tax expenses. Both funds emphasize liquidity risks, regulatory uncertainties, and the volatility inherent in crypto markets.

Notably, the SEC’s declaration of effectiveness does not guarantee immediate trading. The launch timeline depends on final operational readiness, but Seyffart says the debut could be “within the next few weeks.”

This development comes as demand for crypto investment vehicles grows, particularly those offering yield-generating strategies like staking. Rex Shares’ ETFs could attract investors seeking regulated exposure to ethereum and solana without direct custody.

The funds will trade like traditional ETFs, with creations and redemptions primarily in cash. Market makers and authorized participants will play a key role in maintaining liquidity.

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