The SEC questioned the legitimacy of the Ethereum and Solana pledged ETFs submitted by NEX
PANews reported on June 1 that according to Bloomberg, the SEC questioned the Ethereum and Solana pledged ETFs launched by REX Shares and Osprey Funds, believing that they may not meet the definition of investment companies and ETFs in the Federal Securities Act. The U.S. SEC said the funds may have "incorrectly filed registration statements" and that "disclosures in the registration statements regarding the identity of these funds as investment firms may have been misleading." Greg Collett, general counsel at REX Financial, said, "We think we can make the SEC happy with the issues with the investment company, and we don't plan to launch a fund until that happens." ”
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