According to @EricBalchunas, the SEC sent a letter to REX expressing concerns that the company may have improperly filed its application. REX's legal team remains confident a resolution is possible, echoing the situation previously seen with $PRIV. Issuers are aggressively pushing regulatory boundaries in a bid to launch the first crypto ETF, which could significantly impact market sentiment and trading volumes as regulatory clarity emerges (source: @EricBalchunas, @isabelletanlee, Twitter, May 31, 2025).

According to Eric Balchunas, the SEC has published a letter regarding concerns raised in public comments about the $PRIV ETF. Despite these concerns, it appears that State Street has resolved most of the issues, and the ETF is already on the market. This development may indicate stability in the ETF's trading environment, suggesting potential for traders to focus on market performance rather than regulatory uncertainties. Source: Eric Balchunas on Twitter.