REX Shares Moves to Launch BNB Staking ETF Following Solana Success
REX Shares files with the SEC for a BNB staking ETF after its Solana fund attracted over $150 million in assets.
The race to bring staking-based exchange-traded funds to the U.S. market continues to accelerate. REX Shares, in partnership with Osprey Funds, has filed with the Securities and Exchange Commission (SEC) for a BNB staking ETF, building on the strong reception of its Solana-focused product earlier this year.
The proposed fund would trade on the Cboe BZX Exchange with Anchorage Digital acting as custodian. According to the filing, the ETF intends to stake most of its BNB holdings while maintaining sufficient liquidity, with no more than 15 percent of assets designated as illiquid. The fund would also allocate capital to liquid staking protocols, providing investors with an additional source of staking rewards while preserving flexibility.
By taking this approach, the BNB staking ETF aims to combine yield generation with compliance under the Investment Company Act, a route designed to expedite regulatory approval. Industry observers note that this same structure was used for the Solana ETF, which gained traction quickly and attracted significant inflows from institutional investors.
Bloomberg ETF analyst James Seyffart suggested that the fund could be approved and launched as soon as November 9. If successful, it would mark another milestone in the gradual integration of staking assets into mainstream financial products, offering investors exposure to blockchain-based yield mechanisms within a familiar ETF wrapper.
The momentum behind staking ETFs is clear. The REX-Osprey Solana fund, introduced earlier this year, has already surpassed $150 million in assets under management, underscoring institutional demand for regulated products that allow participation in staking without the operational complexity of managing crypto wallets or validator nodes. For many investors, staking directly on-chain presents challenges in terms of custody, liquidity, and tax treatment. An ETF structure addresses these issues while providing transparency and ease of access.
The filing also comes at a pivotal time for Binance Coin (BNB). Once primarily associated with the Binance exchange ecosystem, BNB has evolved into the backbone of the BNB Smart Chain, supporting a wide range of decentralized applications. With staking yields and network activity generating ongoing demand for the token, a regulated ETF could provide new avenues of participation for U.S.-based institutions and retail investors alike.
Whether the SEC will approve the product remains an open question, but the growing momentum behind staking funds suggests regulators may face mounting pressure to accommodate them. If REX Shares secures approval for its BNB staking ETF, it could further validate staking as a mainstream financial instrument and open the door to additional blockchain-based ETFs tied to other proof-of-stake assets.
