REX-Osprey Solana ETF Restructures to Improve Tax Efficiency

• REX-Osprey converted its Solana ETF from a C-Corporation to a regulated investment company structure on September 1, eliminating double taxation for investors.

• The fund’s assets under management reached over $212 million within weeks of launch, showing strong institutional demand for regulated Solana exposure.

• Multiple Solana ETF applications are pending SEC approval, and recent filing amendments suggest potential regulatory approval may be approaching.

REX-Osprey has completed a significant restructuring of its Solana-focused exchange-traded fund, converting the SSK SOL + Staking ETF from a C-Corporation to a regulated investment company (RIC) structure effective September 1, 2025. The conversion eliminates double taxation issues that previously affected investors and aligns the fund with standard ETF structures used across the United States market.

The restructured fund will no longer face federal or state taxation at the fund level. Instead, it will distribute taxable income and capital gains directly to shareholders, who will handle their individual tax obligations. This change removes the burden of corporate-level taxation that characterized the previous C-Corp structure.

Greg King, CEO of REX Financial, stated the conversion represents a clear advancement for fund participants. The new structure aligns the Solana ETF with conventional exchange-traded fund models while maintaining direct exposure to Solana tokens and staking rewards. The modification addresses previous tax inefficiencies that may have deterred potential investors.

Fund Performance Shows Strong Institutional Interest

The SSK ETF, which became the first U.S.-listed crypto staking ETF when it launched in July 2025, has attracted significant institutional attention. Assets under management have grown substantially since the fund’s inception, reaching over $212 million according to recent data from REX Shares’ website.

The rapid asset accumulation demonstrates robust investor appetite for regulated Solana exposure within weeks of the fund’s market debut. Investment professionals attribute this growth to institutional demand for cryptocurrency exposure through traditional financial instruments rather than direct token purchases.

The conversion to RIC status positions the fund to capture additional institutional and retail investment flows. The simplified tax treatment eliminates complexity that previously hindered some investors from participating in the Solana market through this regulated vehicle.

Broader Solana ETF Approvals May Drive Market Momentum

Multiple asset management firms have submitted applications to the SEC for spot Solana ETFs, with several funds recently amending their registration forms. Traders interpret these amendments as potential signals that regulatory approval may be approaching.

Solana has demonstrated resilience in 2025, with prices ranging from $80 to $250 per SOL token, driven by developer interest and successful Layer 2 integrations. The blockchain’s high transaction throughput and low fee structure continue attracting new projects and reinforcing long-term growth prospects.