Rex-Osprey Files for BNB Staking ETF as BNB Hits New Highs Above $882

Rex-Osprey, a collaboration between REX Shares and Osprey Funds, has submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) for a proposed BNB + Staking Exchange-Traded Fund (ETF). The filing, made on August 26, 2025, aims to offer investors exposure to Binance Coin (BNB) and its associated staking rewards, with a potential launch as early as November 9-10, 2025, according to Bloomberg ETF analyst James Seyffart.

The proposed ETF intends to primarily hold BNB directly and stake a substantial portion of these holdings to generate yield. While the fund aims to stake all its BNB, it will maintain a liquidity buffer, ensuring that no more than 15% of its net assets are illiquid due to BNB's approximate seven-day unbonding period. The ETF also plans to utilize liquid staking protocols, offering investors staking benefits without complete illiquidity.

This new application follows the successful precedent set by Rex-Osprey's Solana + Staking ETF (SSK), which launched in early July 2025. Both funds are structured under the Investment Company Act of 1940, a regulatory pathway distinct from the 1933 Act used by traditional spot Bitcoin and Ethereum ETFs, allowing for the inclusion of staking rewards. Anchorage Digital Bank National Association is slated to serve as the crypto custodian, with U.S. Bank handling traditional assets.

The filing comes amidst significant momentum for BNB, which recently achieved new all-time highs above $882 in August, pushing its market capitalization beyond $119 billion. This surge is attributed to increased network activity on BNB Chain and growing institutional adoption, with several companies integrating BNB into their treasury strategies. The SEC's recent clarification that certain liquid staking arrangements and receipt tokens are not considered securities has provided further regulatory clarity, potentially accelerating approval for such innovative crypto products.