First-Ever Solana Staking ETF Launches in the U.S.: Is This the Future of Crypto Yield?

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The REX-Osprey Solana + Staking ETF (SSK) officially debuted on July 2, 2025, becoming the first U.S.-listed Solana staking ETF to offer direct exposure to Solana (SOL) along with on-chain staking rewards. The ETF has started trading on the Cboe exchange and attracted great initial attention of institutional and retail investors.

According to Bloomberg ETF analyst Eric Balchunas, the fund had traded about $33 million and experienced $12 million in net inflows in its opening day of trading a stellar start that outpaced initial trading in other Solana and XRP futures ETFs. But nonetheless, its opening figures were below the firecracker-like sales of Bitcoin and Ethereum spot ETFs earlier this year.

$SSK ended day with $33m in volume. Again, blows away the Solana futures ETF and XRP futures ETFs (or the avg ETF launch) but it is much lower than the Bitcoin and Ether spot ETFs. pic.twitter.com/t6LkQwDXLc

— Eric Balchunas (@EricBalchunas) July 2, 2025

Solana Staking ETF Prioritizes Investor Protection

This Solana staking ETF is set up with the Investment Company Act of 1940 and stands out by offering investor protections that are not common to crypto-backed ETFs.

Its staking partner and custodian, Anchorage Digital, was the first and only federally chartered crypto bank in the U.S. licensed to custody and stake its assets an aspect that enhances the scope of regulatory compliance and transparency in operations.

The ETF intends to place approximately 80 percent of its funds in SOL, and at least half of its assets will be actively staked with steward validators like Galaxy and Figment.

ETF Combines Solana Exposure With Yield

This staking activity brings monthly cash returns, which are offset directly to shareholders, and SSK is an option to consider in the case a particular investor is willing to get a passive income with exposure to cryptos.

The other holdings are the liquid staking tokens such as JitoSOL and other exchange-traded products on other exchanges listed in overseas markets like Canada and Europe related to SOL.

The advantage of the Solana staking ETF is the usage of spot pricing linked to the CME CF Solana-Dollar Reference Rate that can provide a closer view of the situation in the market in comparison with the derivatives-based funds.

SEC Greenlights First Solana Staking ETF

The path of SSK to launch was quite diverse. Initially, concerns about the classification of the fund and the staking mechanisms were voiced by the U.S. Securities and Exchange Commission (SEC). However, months later, the SEC raised no additional objections, as of June 28, which opened a path to the approval of the Solana staking ETF.

The green light of the ETF could indicate a change in the regulation of increased transparency in staking-based crypto products. Since the SEC has nine other Solana-related ETF applications in process, SSK may serve as a model for upcoming Solana-staking products as well as crypto ETFs that earn yield through on-chain transactions.

SSK Launch Marks Milestone for Crypto ETFs

The effective launch of SSK is a milestone for the overall digital asset ETF sector in the United States. In contrast to the existing crypto ETFs that are forced to utilize an unregulated futures or spot exposure without the customary yield meant to generate returns, the Solana staking ETF introduces the effective staking reward yield to the regulated ETF world, an action that could likely overhaul the design and sale of digital asset funds.

The hybrid deposit exposure plus staking profits model of SSK is now being closely monitored by industry experts whose eyes are now set on whether the framework can become the new norm.

As investor interest in the yield-bearing crypto products grows, combined with an improving understanding of regulators, the launch of the ETF may mark the start of a new era of crypto finance in the USA.

Conclusion

The SSK launch will be an important milestone in the U.S.-regulated crypto investment. It brings a new model of an ETF in the integration of Solana exposure and staking rewards. As the regulatory clarity increases and the number of investors interested increases, SSK might create the future of yield-generating cryptocurrency ETFs in other traditional financial settings.

Summary

The REX-Osprey Solana + Staking ETF (SSK) became the first U.S ETF to give exposure to Solana and on-chain staking returns, beginning trading on July 2, 2025, on Cboe. It experienced a high demand with a \$33 million volume and \$12 million inflows. SSK is organized under the Investment Company Act of 1940 as a company providing investor security and monthly staking returns. Its acceptance can open the road to stake-improved crypto ETFs in the United States.