SEC Throws Cold Water on Ethereum and Solana Staking ETF Dreams
Regulators just slammed the brakes on Wall Street’s latest crypto cash grab—staking ETFs for Ethereum and Solana. The SEC’s move signals more roadblocks ahead for institutional crypto products, proving once again that traditional finance moves at the speed of bureaucracy while blockchain outpaces it.
Why it matters: This isn’t just about paperwork—it’s a power play. The SEC’s hesitation reveals the growing tension between innovation and regulation, with billions in potential institutional money hanging in the balance.
The bottom line: While TradFi scrambles to package crypto into neat little ETF wrappers, the decentralized future isn’t waiting for permission. Another case of regulators bringing a filing cabinet to a blockchain revolution.
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The SEC also asked the issuers to delay the launch and disclose prior communications, highlighting a deeper level of regulatory concern. REX Financial’s general counsel Greg Collett said they don’t plan to proceed until they’ve addressed the legal issues and gained the Commission’s approval.
Although Ethereum ETFs are already trading, Solana still lacks basic spot ETF approval in the U.S., meaning this product faces not one but two layers of regulatory review. Whether staking ETFs can find a path forward will likely hinge on how the SEC ultimately rules on both the structure and the assets involved.
