In the hushed corridors of financial constellations, REX Shares and Osprey Funds have whispered to the SEC, a plea to birth a new ETF, a celestial vessel for BNB’s luminous orbit. 🌌
The N-1A filing, a parchment of dreams, envisions this ETF dancing on the Cboe BZX Exchange, cradling BNB in the arms of a crypto custodian, while third-party validators, like shadowy poets, may stake its wealth, some tethered to REX’s clandestine whispers. 📜
Behold, the fund’s heart beats with staked BNB, a golden fruit of rewards, while liquidity, its breath, remains ever-present, lest illiquid holdings, like seven-day chains, shackle its flight. ⚖️
BNB, the silent symphony of transaction fees, governance votes, and blockchain’s delegated proof-of-stake, yet Binance, the puppeteer, holds the strings, a sovereign in disguise. 🎭
Grayscale, VanEck, and Franklin Templeton, the modern-day alchemists, chase XRP, Solana, Dogecoin’s shimmer, while the SEC, under this administration’s gaze, may finally nod, a reluctant patron of crypto’s ascent. 🕊️
REX and Osprey, having once launched a Solana staking ETF, now gaze upon BNB’s horizon, a fund structured under the 40 Act, a tax-efficient ballet, holding BNB directly, or through Cayman’s veiled embrace, unlike the ’33 Act’s rigid trusts. 🕵️♂️
Yet this is no first dance-VanEck’s BNB ETF, a ghostly waltz in May, now REX-Osprey’s turn, their approval, a November prophecy, a sequel to Solana’s modest $161.7 million, a mere drop in Bitcoin and Ethereum’s vast, glittering sea. 🌊
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2025-08-27 16:15