The SEC recently sent a warning to REX Shares and Osprey Funds, indicating that their proposed Ethereum and Solana ETFs might not meet the definition of an investment company under the Investment Company Act. Both companies aim to create funds using C corporations, with at least 65% of assets invested inSolana。
Bloomberg's James Seyffart noted that the proposals incorporate several clever legal and regulatory strategies. The SEC highlighted that the registration statements became effective befor