SEC’s Hilarious Take on Staked Solana and Ethereum Funds: Not ETFs, Sorry!

Well, well, well, look who’s trying to be the cool kid on the block! RexShares thought they could waltz in and launch the first staked Solana and Ethereum fund in the US. But hold your horses, folks! The SEC just sent them a little love letter, and spoiler alert: it’s not a love note. 💌

According to a juicy Bloomberg report (because who doesn’t love a bit of gossip?), the SEC is throwing shade at RexShares, saying their funds might not even qualify as ETFs. I mean, come on, who knew being an investment company was such a high bar? 🤷‍♀️

The SEC is basically saying, “Hey, RexShares, we think you might have misfiled your registration statements. And by the way, calling these funds investment companies? A bit misleading, don’t you think?” Ouch! That’s like getting called out in front of the whole class for not doing your homework. 📚

As CoinGape reported (because they’re always in the know), RexShares had big dreams, but it looks like they might need to hit the books a little harder before they can play with the big boys on the stock market. Better luck next time, Rex! 🐉

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