REX-Osprey™, the joint ETF venture between REX Financial and Osprey Funds, announced the conversion of its SOL + Staking ETF (Ticker: SSK) from a C-Corporation to a Regulated Investment Company (RIC) structure, effective September 1.
The change is designed to boost tax efficiency for investors by eliminating federal and state taxes at the fund level, provided the fund meets distribution requirements under U.S. tax law. Under the RIC format, income and gains are taxed only once, at the shareholder level, replacing the double-tax structure typical of C-Corp ETFs.
“This conversion represents an important improvement for SSK and its investors,” said Greg King, CEO of REX Financial. “We’re aligning with the standard ETF model while preserving our unique exposure to Solana and staking rewards.”
First-of-Its-Kind Solana Staking Access
SSK remains the only U.S.-listed ETF offering exposure to spot Solana (SOL) and staking rewards. The fund directly holds SOL and other non-U.S. exchange-traded products that hold SOL and generate staking yields.
While futures ETFs bleed through contango, SSK goes straight to spot SOL, locking in real staking yields without the drag. The switch to a RIC structure doesn’t just clean up tax liabilities—it positions the fund to compete on long-term returns without the drag of double taxation.
By pairing REX Financial’s ETF pedigree with Osprey Funds’ crypto infrastructure know-how, the duo is crafting products that speak both regulatory compliance and on-chain performance.
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