First US Solana Staking ETF Launches With $12M Inflows
The REX-Osprey Solana Staking ETF debuted on the Cboe BZX Exchange, attracting $12 million in inflows and $33 million in trading volume on its first day. This ETF, trading under SSK, offers direct exposure to spot Solana (SOL) and staking yields, marking it as the first crypto staking ETF approved in the U.S. Initial trading was robust, with $8 million in volume within the first 20 minutes. The fund navigated regulatory challenges by investing at least 40% of its assets in other ETPs, avoiding standard SEC filing processes. Analysts predict a 95% chance of approval for spot Solana ETFs by year-end, with expectations for a surge of new ETFs in late 2025. Despite the ETF's launch, Solana prices showed minimal reaction, gaining 3.6% over 24 hours but remaining down 48% from January peaks. Solana CME futures experienced record demand, indicating rising institutional interest.
