The Rexshares Director’s move to become the first to launch the Solana and ETHEREUM box in the United States in the United States. The US Securities and Stock Exchange Committee (SEC) has sent a letter explaining why these funds may not be eligible as ETFS.
SEC responds to Rexshares on Staked Solana and Ethereum boxes
according to Bloomberg reportSEC sent a letter to Trust Etf ETF, an entity that issues many traded investment funds, including RX shares, stating that Solana and Ethereum funds may fail to meet the legal definition of an investment company, which is a condition for them to include them in the stock market.
The committee said that it was worrying that Rexshares is properly submitting the registration data for these funds and that the disclosure in these phrases described as investment companies may be “misleading”.
As Coingepe mentioned, the asset manager chose an unconventional application model for these Solana and Ethereum Stoke ‘Etfs’, which raised questions about the response of the Securities and Stock Exchange. Bloomberg analyst James Sevart explained that the deposits were not the 19B-4 mode applications, but 40 exercises with a unique structure.
However, Rexshares believes that these boxes are Solana and Ethereum qualify as a picture of the boxes. Gray Colette, General Adviser to Rex Financial, said they believe they can meet the investment company question committee and that they do not intend to launch money until they do so.
Interestingly, this development comes exactly as the Securities and Stock Exchange Authority has eliminated that some proof of evidence is not securities. Accordingly, participants in specific protocol activities do not need to register transactions with the committee under the Securities Law.
Experts tell this development
in X postBloomberg Erik’s analyst commented on the situation with the Solana Rixres and Ethereum funds. He pointed out that this development is somewhat similar to a privacy situation. He highlighted the fact that the asset manager was likely to push the “difficult” envelope in an attempt to launch the market first.
As Coingepe reported, SEC has so far been delayed by other traditional applications of assets managers to provide the services of their own custodians, with another delay is the sequence on the Ethereum etf ethereum proposal in 21shares.
According to the Bloomberg report, SEYFART is sure that the most obvious attempts to allow wandering in the United States’s investment funds will be successful in the end. He added that it is related to when, and not if. However, the committee is not a fan of the way Rexshares tried to push these lists through. in X postThe analyst said it would be an interesting story to see it in the coming days and weeks.
Boluwatife Adeyemi
Boluwatife Adeyemi is a writer and editor of encryption news that covered topics that exceed many topics and ports. Boluwatife has a talent to simplify the most technical concepts and make it easy for the novice encoded. Away from writing, he is a fan of thirsty basketball, traveler and part -time.
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