Solana Staking ETF Makes History: $12M Debut Signals New Era for Crypto Investing
- Keyword Financial
- Jul 2
- 3 min read
Introduction
The REX-Osprey Solana Staking ETF, the first of its kind in the United States, debuted on the Cboe BZX Exchange and saw a strong start with $12 million in inflows and $33 million in trading volume on its first day. This ETF, trading under the ticker SSK, offers investors direct exposure to Solana (SOL) and the ability to earn staking yields, making it a unique product in the American market. Analysts described the launch as a “healthy start,” with trading volume in the first 20 minutes reaching $8 million, outperforming previous launches of Solana and XRP futures ETFs, though still far below the record-setting debut of spot Bitcoin and Ether ETFs.
The fund’s launch was not without regulatory challenges. The U.S. Securities and Exchange Commission (SEC) initially objected to the ETF after its first registration, questioning whether it qualified as an “investment company” under securities laws. REX-Osprey navigated these hurdles by structuring the fund to invest at least 40% of its assets in other exchange-traded products, mostly outside the U.S., allowing it to bypass the standard approval process. This workaround has sparked debate about whether SSK should be considered a traditional spot Solana ETF, but it has nonetheless paved the way for more crypto staking ETFs in the U.S.
Despite the excitement around the ETF’s launch, Solana’s price saw only a modest increase, rising 3.6% in 24 hours and trading around $153, still significantly below its January peak. However, the ETF’s debut and record demand for Solana CME futures signal growing institutional interest in Solana and other altcoins. Industry analysts now estimate a 95% chance that spot Solana, XRP, and Litecoin ETFs will be approved by the end of 2025, suggesting that the market for crypto-based ETFs is poised for further expansion.
