MutualFundWire.com: King Targets Solana and Ether

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Friday, July 11, 2025

King Targets Solana and Ether

The team at a Constitution State fund firm is rolling out one spot cryptocurrency ETF and building another.

Last week, Greg King, CEO of REX Financial [profile], unveiled the launch of the REX-Osprey Solana + Staking ETF (SSK on the Cboe BZX), and the REX team also filed to launch the REX-Osprey ETH + Staking ETF. Fairfield, Connecticut-based REX Advisers, LLC serves as investment to both ETFs, and the REX team describes REX-Osprey as a "strategic collaboration" between REX Shares and Osprey Funds. (Osprey is a REX sibling focused on digital assets.)

ESK has not yet launched, but SSK's inception date was July 2. SSK comes with an expense ratio of 140 basis points, while the planned expense ratio for ESK is 128bps. SSK now has about $72 million in AUM.*

SSK and ESK are each designed to provide exposure (through direct investment and by investing in other ETFs and ETPs) in a different type of crypto (Solana for SSK, Ether for ESK), plus "staking rewards." The REX team lays claim to SSK being the first ETF listed in the U.S. that combines staking rewards and SOL exposure.

The PM team for ESK and SSK includes the same REX Advisers duo:

Matthew Holcomb, senior vice president and senior trader; and

Matthew Pelletier, lead portfolio manager.

King calls the launch of SSK "a major milestone for ETFs and the crypto industry, and pioneering expansion in how securities investors can access crypto investments and blockchain-native returns."

"With SSK, we're giving investors Solana staking rewards in a familiar ETF format—something that's never been done before in the U.S. market," King states. We've essentially built a bridge between the world of TradFi securities investments and the world of crypto investments."

SSK and ESK are non-diversified, actively managed series of ETF Opportunities Trust. The ETFs' other service providers include:

Anchorage Digital Bank National Association as crypto custodian;

Commonwealth Fund Services, Inc. as administrator;

ACA's Foreside Fund Services, LLC as distributor;

KPMG LLP as independent accounting firm;

Practus, LLP as counsel;

U.S. Bank Global Fund Services, LLC as dividend disbursing agent, fund accountant, and transfer agent; and

U.S. Bank, N.A. as custodian.