Internet reports that the U.S. SEC has questioned the Ethereum and Solana pledged ETFs launched by REX Shares and Osprey Funds, believing that they may not meet the definitions of investment companies and ETFs in the Federal Securities Act. The SEC said the funds may have "incorrectly filed registration statements" and that "disclosures in the registration statements about the funds 'identities as investment companies may be misleading." "We think we can make the Securities and Exchange Commission happy with the investment company's issues, and until we do that, we don't plan to launch the fund," said Greg Collett, general counsel for REX Financial.