REX Shares continues to move forward on its proposed Staked Solana ETF. Recent regulatory clarifications from the Securities and Exchange Commission (SEC) have propelled them forward. The underlying index of the proposed ETF would track daily price movements of Solana giving investors exposure to the digital asset while delivering staking rewards through on-chain staking. This expansion is a huge win! If it succeeds, it would bring one of the first crypto ETFs to market in the U.S. that offers exposure to the underlying assets along with staking advantages.

The SEC's updated stance on staking models, issued in May 2025, appears to have paved the way for this innovative financial product. Most importantly, the regulatory body, through enforcement actions, made clear that staking models per se do not necessarily trigger securities regulations by default. Trading under the ticker $SSK, the Solana ETF could change the way investors interact with digital assets.

SEC's Evolving Stance on Staking

The SEC had discussed staking models as far back as May 2022. For context, this guidance very much paved the way for the approval of the REX Shares Staked Solana ETF. In its clarification, the newly updated guidance explained that on-chain staking provided standalone—without the added mast of other complementary services—probably wouldn’t be considered a security. This difference is really important, as it goes a long way in laying out the regulatory path forward for crypto ETFs that include staking rewards.

This change in regulatory attitude has provided a terrific sense of confidence to the market. We’ve witnessed this firsthand, as we’ve seen evidenced in the advances of the REX Shares ETF. Industry experts see the SEC’s failure to object to the amended prospectus as a very good sign.

Looks like they believe comments have been resolved…Crypto ETF summer commences. - Nate Geraci

Details of the Proposed Solana ETF

REX Shares’ proposed Solana ETF would stake tokens on the Solana blockchain via validators. If granted approval, the ETF would give investors direct exposure to Solana and staking rewards through on-chain staking. The Solana ETF will trade under the $SSK ticker.

REX Shares has just published an amended prospectus. The company has addressed all past issues and is now finally ready to proceed with the launch. This move is particularly noteworthy as it represents one of the first attempts to bridge traditional finance with the burgeoning world of decentralized finance (DeFi).

Rex also filed an updated prospectus, which totally filled in. Add it all up and it appears as though all systems go for imminent launch. $SSK is the ticker. - Eric Balchunas

Additionally, due to the ETF’s structure, investors would be able to earn staking rewards on the asset, increasing the overall return profile of the investment.

Solana's Bullish Technical Outlook

Beyond the regulatory news, Solana’s technical outlook is shaping up nicely as well. Between June 29, 2025, Solana developed an ascending bullish flag pattern. This important technical indicator strongly suggests that the bullish trend should continue. The recent breakout level is very close to where it currently sits, which is around the $150.30 price level.

The bullish flag breakout currently sets a $231.33 resistance level as it’s breakout target, which would mean a 53% upside from the stock’s current price. Solana had reclaimed the 50-day Exponential Moving Average (EMA) with this breakout, presently located around $151.39. Candle breakout volume Candle volume on this breakout candle is by far the strongest at 286,060 SOL.

The SOL price exploded in late April and early May to create the flagpole of the bullish flag pattern. If volume can keep climbing then that would add even more power behind this breakout.