Bloomberg analyst James Seyffart said on the X platform that REX Shares has submitted a prospectus for Solana and Ethereum collateralized ETFs, which are expected to be listed on the US market in the coming weeks. These funds are products under the 1940 Act and use a C-type corporate structure rather than the traditional 19b-4 process. "This may be a way to get some level of approval from the SEC." Seyffart pointed out that the ETF will obtain SOL and ETH spot exposure through a Cayman subsidiary, and said that "this is a series of clever legal and regulatory circumvention strategies used to bring these products to market." Seyffart also said: "Even if a more efficient structure emerges in the future, this may be the first way to go online."