REX Financial CEO Picks Solana Over Ethereum: | Crypto News
On Bloomberg’s “ETF IQ” on Monday, REX Financial chief govt Greg King made his most forceful public case yet for Solana’s position in real-world finance—particularly for stablecoins—and explained why his firm constructed a 1940 Act, staking-enabled ETF around SOL reasonably than ready for a conventional ’33 Act spot product.
Solana Vs. Ethereum
King didn’t hedge when requested to put the Solana-versus-Ethereum debate into plain language for mainstream buyers: “Eth is the second biggest crypto. Solana is basically top five. A lot of people think Solana is the up and comer that will overthrow the area. It is a very controversial debate. I’ve probably made friends and enemies even suggesting that now.”
That framing goes to the center of today’s market divide. Ethereum stays the default base layer for on-chain finance and developer tooling; Solana’s pitch is uncooked throughput and low-latency UX for funds, client apps, and—crucially in King’s view—stablecoin settlement at scale. It’s also the sensible rationale for REX’s product design: if the chain’s economics are pushed by quantity and staking, package deal both into a regulated fund wrapper that passes yield through to shareholders.
“Solana is basically faster and more designed for high processing speed. Frankly, when I saw the big debate come out about stablecoins being all built on Eth, I was like, this is a huge oversight. I think Solana is the story of the future as far stablecoins go.”
The vehicle implementing that thesis is SSK—the firm’s Solana-forward ETF that stakes SOL and pays a month-to-month distribution. King characterised staking for non-crypto natives as an income stream tied to community security reasonably than energy-intensive mining.
“It boils down to, for investors, basically an interest rate on your crypto,” he said, noting that on Solana it “varies… somewhere between the 6% to 8% annualized range.” In SSK’s design, those rewards aren’t trapped inside the fund: “SSK is the first fund to deliver that staking reward through to investors in the US,” he said, including that the current run-rate distribution is “roughly 5% a year right now,” with the usual caveat that payouts fluctuate.
REX Financial CEO Greg King believes Solana is the story of stablecoin’s future over Ethereum. He speaks with @EricBalchunas on “ETF IQ” https://t.co/aVEoiSkzfo pic.twitter.com/iQx9g4oYJg
— Bloomberg TV (@BloombergTV) August 25, 2025
Solana ETF Spotlight
A second pillar of King’s argument is structural. He drew a vibrant line between ’33 Act spot ETPs—long acquainted to crypto buyers via grantor-trust buildings—and the ’40 Act investment-company wrapper REX selected. The latter, he said, is “the better wrapper… more investor safeguards, more flexible.”
In follow, that means an actively managed portfolio that can maintain SOL immediately and via listed devices while delegating to institutional validators and optimizing for staking seize and liquidity. It also means larger all-in prices than a plain-vanilla equity ETF and concentrated publicity to a single crypto-asset’s volatility—trade-offs the firm acknowledges even as it leans into the yield-plus-beta pitch.
The interview also touched on the approaching product wave across US exchanges. Bloomberg’s Eric Balchunas flagged the queue of ’33 Act spot functions for tokens with established futures markets, while co-host Katie Greifeld pressed on timing for a “pure spot Solana ETF.” King was cautious on precise dates but not on direction: “I do think we see a bit of an explosion,” he said—then immediately drew boundaries around high quality control.
“Crypto will get fairly sketchy below the top 10, definitely below the top 20. I feel there’s some vital choosing and selecting that has to occur by issuers there.” Even among majors, he expects “a lot of funds per coin,” with Solana a “great candidate” given its mixture of scale, perceived “underdog” standing in the race with Ethereum, and comparatively bigger staking reward.
At press time, SOL traded at $188.
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