REX-Osprey SOL + Staking ETF (SSK) Announces One-Time Special Distribution
REX-Osprey™ today announced that the REX-Osprey™ SOL + Staking ETF (Ticker: SSK), the first Solana spot ETF, expects to make a one-time tax-driven special distribution related to its prior C-Corporation structure and subsequent conversion to a Regulated Investment Company (“RIC”). This required distribution of accumulated earnings and profits from the Fund’s C-Corp phase is intended to preserve SSK’s RIC status and long-term tax efficiency and is separate from the Fund’s regular distributions of staking rewards.
This special distribution is expected to be materially higher than SSK’s typical staking related monthly distributions and is currently estimated to be $2.3977 per share as of the applicable record date.
Special Distribution Details
ETF Name: REX-Osprey SOL + Staking ETF (SSK)
Nature of Distribution: One-time special distribution of accumulated C-Corp earnings and profits, separate from normal staking distributions
Amount Per Share: $2.3977
Pay Date: 1/30
Distributions are not guaranteed and may include a return of capital. For full details, please consult the Fund’s prospectus.
SSK is the first U.S.-listed ETF to provide spot Solana (SOL) exposure together with on-chain staking rewards and the only 1940 Act ETF on Solana. The Fund passes through all staking rewards to shareholders, offering regulated access to Solana and its staking yield through a transparent, exchange traded vehicle. It combines direct SOL exposure, regular distributions of on-chain rewards, and daily liquidity, while operating as a RIC designed to long term tax efficiency. Provide long term tax efficiency in a highly regulated 1940 Act structure.
For standardized performance, current holdings, and additional information, please visit: rexshares.com/ssk
Media Contact:
rexfin@gregoryfca.com
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Important Information
Investing in SSK is not equivalent to investing directly in Solana.
Investing in the Fund involves a high degree of risk. As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. An investor should carefully consider the Fund’s investment objective, risks, charges, and expenses before investing. The Fund’s prospectus and summary prospectus contain this and other information about the REX Shares. To obtain the Fund’s prospectus and summary prospectus, call 1-844-802-4004. The Fund’s prospectus and summary prospectus should be read carefully before investing.
THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH SOLANA OR ANY ENTITY PROVIDING VALIDATION OR STAKING SERVICES. The Fund’s investment exposure is concentrated in the Solana ecosystem. Risks associated with this exposure may adversely affect the Fund’s net asset value (“NAV”) per share, trading price, yield, total return, and/or ability to meet its investment objective. The value of the Fund, which focuses on underlying securities in the crypto sector, may be more volatile than a more diversified pooled investment or the market as a whole and may perform differently from the value of a more diversified pooled investment or the market as a whole.
Crypto Asset Risk. The Fund holds SOL tokens, a crypto asset that is native to the Solana blockchain. Crypto assets are subject to extreme volatility, regulatory uncertainty, market manipulation, security risks, and technological changes. The value of the Fund will fluctuate with the price of SOL, which is influenced by a range of factors including adoption of the Solana network, network congestion, smart contract failures, validator misbehavior, and the emergence of competing platforms. Additionally, crypto asset exchanges and counterparties may be less regulated than traditional financial institutions, and are subject to fraud, hacking, and operational disruptions.
SOL Risk. The Fund’s investments in SOL and SOL-related instruments expose the Fund to the risks associated with an investment in SOL because the price of these instruments is substantially based on the price of SOL. SOL is a relatively new innovation and is subject to unique and substantial risks. The market for SOL is subject to rapid price swings, changes and uncertainty.
Staking Risk. When the Fund stakes SOL, the staked SOL is subject to the risks attendant to staking generally, including lockup periods during which staked assets cannot be sold, continued exposure to market volatility during the staking and unstaking periods, potential lack of rewards during certain portions of the staking cycle, and risks from security breaches, network downtime or attacks, smart contract vulnerabilities, and validator or custodian failure or compromise, any of which can result in a complete loss of staked assets or associated rewards.
Concentration Risk. The Fund’s assets will be concentrated in the sector(s) or industry(ies) associated with the Solana ecosystem, which may subject the Fund to greater risk of adverse economic, political, regulatory, or other conditions affecting that sector or industry than a more diversified fund.
Liquidity Risk. The Fund may not be able to sell its crypto assets at the time or price it desires. Crypto asset markets may be less liquid than traditional securities markets and may be subject to significant price fluctuations.
New Fund Risk. The Fund is a relatively new investment company with limited operating history. Investors have limited performance history to assess how the Fund will perform.
Non-Diversification Risk. The Fund is nondiversified, which means it may invest a greater percentage of its assets in a smaller number of issuers than a diversified fund, potentially increasing volatility and the risk of loss.
Indirect Investment Risk. Neither Solana nor the Solana Network is affiliated with the Trust, the Fund, or the Adviser, or any of their affiliates and is not involved with this offering in any way, and has no obligation to consider the Fund in taking any actions that might affect the value of the Fund. Investing in the Fund is not equivalent to investing directly in Solana or any other digital asset.
Regulatory Risk. The Fund’s investments in crypto assets may be subject to varying laws and regulations across jurisdictions, including tax laws and regulations. These laws and regulations may change without warning, and enforcement actions may be taken, which could have an adverse effect on the Fund and its operations.
Custody Risk. Digital assets held by the Fund can only be transferred by the holder of the private keys controlling the associated wallets. If a custodian loses control of the private keys (for example, due to a data breach or hack), the Fund’s digital assets held by such custodian could be lost.
Digital Assets Risk. The performance of SOL, and consequently the Fund’s performance, is subject to the risks of the digital assets industry, including extreme price volatility, potential loss or theft of private keys, evolving technology, and changes in network governance or consensus mechanisms.
Foreign Securities Risk. To the extent the Fund invests in foreign securities or foreigndomiciled ETPs, such investments may be subject to additional risks not typically associated with U.S. securities, including currency risk, political risk, and differing regulatory and accounting standards.
Counterparty Risk. The Fund may rely on staking infrastructure providers, custodians, and crypto exchanges. These third parties may become insolvent, fail to safeguard assets, or be subject to regulatory action, leading to potential losses.
Smart Contract Risk. Certain staking activities or custodial processes may rely on smart contracts, which are susceptible to bugs, hacking, or unintended behavior. Exploits in smart contracts could cause loss of assets or incorrect reward distribution.
Market Risk. The value of the Fund’s investments may decline due to market movements, economic conditions, or other factors affecting the overall crypto asset market or Solana ecosystem.
Distributor: Foreside Fund Services, LLC, member FINRA, not affiliated with REX Shares, Osprey Funds, or the Fund’s investment adviser.
