First U.S. Solana ETF Launches wiht Strong Demand
On July 2, 2025, the REX-Osprey Solana + Staking ETF, ticker SSK, debuted on the Cboe exchange. It offers exposure to Solana and staking rewards. The ETF attracted $33 million in volume and $12 million in inflows on it’s first day, according to Eric Balchunas. This performance outshines Solana and XRP futures ETFs but trails Bitcoin and Ethereum spot ETFs.
SSK tracks Solana’s price and generates yield through staking, with monthly cash payouts. About 80% of its assets are in SOL, with half staked using validators like Galaxy and Figment. The rest includes liquid staking tokens and related products. Its spot pricing model ensures closer tracking of SOL’s market price.
Anchorage Digital, a federally chartered crypto bank, acts as the custodian and staking partner. The fund follows months of SEC discussions. The ETF’s launch coudl shape future cryptocurrency ETFs in the U.S., especially those using staking for passive income.
- SSK is under the Investment Company Act of 1940 for investor protection.
- It uses the CME CF Solana-Dollar Reference Rate for accurate pricing.
- With nine other Solana ETF applications pending, SSK’s success may influence the crypto ETF landscape.
SSK’s launch marks a notable step for crypto etfs. It could pave the way for more staking-based products. The ETF’s structure under the Investment Company Act of 1940 ensures strict investor protection.
