Solana Staking ETF Launches in U.S. Market, Records $8M Volume in 20 Minutes

REX Shares and Osprey Funds have jointly launched the first-ever staked crypto exchange-traded fund (ETF) in the United States. Dubbed the REX-Osprey Solana + Staking ETF with the ticker SSK, the fund allows users to gain exposure to Solana (SOL) price exposure and staking rewards.

Bloomberg ETF analyst James Seyffart stated on X that the Solana staking ETF recorded an impressive $8 million in trading volume within the first 20 minutes of trading. This indicated strong interest from both retail and institutional investors.

Understanding the REX-Osprey Solana Staking ETF

This is the first U.S.-listed ETF that combines exposure to Solana with staking rewards. It is worth noting that this financial product is not structured like a spot Bitcoin ETF or other similar products. It is registered under the Investment Company Act of 1940, a U.S. regulation that gives investors added protections. This structure enables the fund to operate within legal guidelines while providing access to staking.

The REX-Osprey Solana staking fund is designed to allocate approximately 80% of its assets to SOL, with around half of that amount staked to generate returns. This means investors not only gain from changes in Solana’s price, but they also earn passive income through staking.

Investors benefit directly from these staking returns, which currently offer an annual yield between 7% and 7.3%.  The rest of the ETF’s portfolio consists of other Solana-related exchange-traded products, primarily from international markets outside the U.S. This mix provides broad exposure to Solana while also allowing the fund to offer consistent staking rewards.

Many in the industry are optimistic that the U.S. Securities and Exchange Commission (SEC) will endorse staking for Solana ETFs. This is especially so because the financial regulator stated that proceeds from crypto staking do not qualify as securities. Last month, Robinhood introduced SOL staking to its U.S. customers, a move that reflects regulatory clarity on crypto staking.

Solana’s Price Jumps

Notably, SOL’s price has increased by over 5% over the past 24 hours. According to CoinMarketCap, the sixth-largest cryptocurrency by market capitalization sold for $153 at the time of writing.

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