According to Cointelegraph, the first U.S. staking cryptocurrency ETF will launch on Wednesday, allowing investors to hold Solana (SOL) and earn returns through staking. REX Shares has confirmed that the fund is imminent.
The REX-Osprey fund will provide investors with SOL spot and staking income, potentially driving institutional adoption of cryptocurrency. The SEC has provided positive feedback on its C-Corp structure.
The price of Solana rose 6% after the ETF news, reaching approximately $158, and has increased over 12% in the past week. Its current market capitalization is $83.5 billion, making it the sixth largest cryptocurrency.
Analysts believe that the approval of the Solana ETF could trigger a 'altcoin summer,' and Solana has also performed strongly in the decentralized exchange market, with trading volume surpassing Ethereum.
