The SEC has sent a warning to REX Shares and Osprey Funds, stating their proposed ETH and Solana ETFs might not meet the "investment company" definition under the Investment Company Act. Both companies use C corporation structures, with 50%+ of assets allocated to staking for extra income. Bloomberg's James Seyffart highlights their "clever legal strategies." The SEC noted the registration statements took effect before addressing unresolved issues, requiring a postponement. Assistant Director Br