Key Takeaways:
- The REX-Osprey Solana Staking ETF (SSK), the first staking-enabled crypto ETF in the U.S., launched with $12M in inflows and $33M in trading volume on day one.
- Regulatory hurdles were bypassed by allocating 40% of the ETF’s assets to non-U.S. exchange-traded products, avoiding standard SEC approval processes.
- Analysts see the strong debut as a sign of rising institutional interest, with fully approved spot Solana ETFs potentially arriving by late 2025.
The first Solana staking exchange-traded fund (ETF) in the U.S. debuted with $12 million in inflows and $33 million in trading volume on its first day.
Launched by REX-Osprey under the ticker SSK on the Cboe BZX Exchange, it offers exposure to Solana (SOL) and staking yields – making it the first U.S.-approved staking-enabled crypto ETF.
The first-ever crypto staking ETFs have been registered with @SECGov and Anchorage Digital is proud to be named the staking partner and exclusive qualified custodian.
— Anchorage Digital ⚓ (@Anchorage) July 2, 2025
The newly registered REX-Osprey Solana + Staking ETF will provide exposure to @solana while also distributing… pic.twitter.com/4todQ800i1
Analysts called the debut a “healthy start”, with early trading volumes surpassing prior Solana and XRP futures ETFs, though still below those of Bitcoin and Ether ETF launches.
The fund avoided standard SEC approval hurdles by allocating 40% of its assets to other exchange-traded products, mostly offshore, sidestepping the typical 19b-4 filing process.
$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
This regulatory workaround sparked debate on whether it qualifies as a traditional spot ETF.
Despite its unconventional structure, the ETF’s success suggests rising institutional interest in Solana.
Bloomberg analysts predict that spot ETFs for Solana, XRP, and Litecoin could receive SEC approval by late 2025.
This follows the SEC’s approval of Grayscale’s ETF conversion.
Meanwhile, institutional demand climbed, with Solana CME futures reaching a record $167 million in open interest – a sign of growing market traction.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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