The first U.S. exchange-traded fund (ETF) offering exposure to Solana (SOL) with built-in staking rewards has officially launched, attracting $12 million in inflows and generating $33.6 million in trading volume on its debut day.
(Source: SolanaFloor on X)
REX-Osprey Solana + Staking ETF (SSK) became the first regulated investment vehicle to combine SOL price appreciation with staking yield. It is custodian by Anchorage Digital.
While it outperformed SOL futures ETFs in initial demand, it still lagged behind the massive trading volumes of spot Bitcoin and Ether ETFs.
The debut of the SOL staking ETF has also benefited the cryptocurrency, skyrocketing its value by approximately 5%. At the time of writing, SOL is trading at around $153.69 with an impressive market capitalization of $82.17 billion, according to CoinMarketCap.
RgEX-Osprey Solana + Staking ETF (SSK): US’s First Solana Staking ETF
The RgEX-Osprey Solana + Staking ETF (SSK) gives investors a simple and affordable way to invest in Solana (SOL) without the disadvantages of futures-based ETFs.
Unlike futures ETFs that can lose value due to “contango”, SSK buys actual SOL tokens. This provides direct exposure to the cryptocurrency’s price. On top of that, the ETF stakes SOL to earn extra rewards to boost investors’ returns, which currently stands at 7.3% annually.
Greg King, CEO of REX Financial, said, “This is a major milestone for ETFs and the crypto industry, and a pioneering expansion in how securities investors can access crypto investments and blockchain-native returns.”
He added further, “With SSK, we’re giving investors Solana staking rewards in a familiar ETF format—something that’s never been done before in the U.S. market. We’ve essentially built a bridge between the world of TradFi securities investments and the world of crypto investments.”
According to an official press release, the SSK ETF is built for both retail and institutional investors. While most crypto use complicated derivatives or just hold the asset, SSK goes one step forward by staking SOL directly on the Solana blockchain to earn real rewards. It also invests in other staked SOL products for additional exposure.
Approval of the first Solana Staking ETF will boost market confidence in the cryptocurrency, which will also open a door for its mainstream adoption.
Recently, DeFi Development Corp (DFDV) announced its plan to buy $100 million worth of SOL tokens using funds from a private note offering for institutional investors. The deal could expand to $125 million if demand is strong.
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