According to Cointelegraph, the first U.S. staking cryptocurrency ETF will launch on Wednesday, allowing investors to hold Solana (SOL) and earn rewards 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 cryptocurrencies. The SEC has given positive feedback on its C-Corp structure.
The price of Solana rose 6% after the ETF news, reaching about $158, up more than 12% in the past seven days. Its current market cap 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 exceeding that of Ethereum.
