REX-Osprey's Solana ETF could begin trading this week, offering investors SOL and passive income.
A new chapter is opening for Solana ( $SOL ) as excitement builds around a potential new investment product in the U.S. market. Rex-Osprey CEO Gregory King has reportedly confirmed that his firm’s Solana staking ETF will launch on July 2nd, marking the first rollout of such a fund.
REX-Osprey to Launch First Staking-Enabled Solana ETF in US
In an X post, journalist db reports that Rex-Osprey's CEO has confirmed that the Solana ETF with staking will begin trading on Wednesday, July 2. It’s unknown whether the SEC will approve other pending Solana ETF applications or whether Rex-Osprey’s fund will stand alone for a while.
The firm took a different route by using a 40-act structure, while other issuers filed under a 30-act structure. T
he update has caught the attention of many investors who have been waiting for more structured approaches to Solana to emerge. Solana, known for its fast and low-cost transactions, has become one of the most popular blockchains.
Its native token, $SOL , has seen strong interest from both retail and institutional investors. The ETF idea isn't new to Solana, but the addition of staking support is a big milestone.
Staking allows token holders to lock their assets to help secure the network and earn rewards in return. Contributing to the ETF could make it more attractive as it offers a way to generate additional yield.
Earlier, REX Shares announced the upcoming launch of the first staking-enabled crypto ETF in the United States. The new fund is called the REX-Osprey SOL + Staking ETF.
It is designed to offer investors exposure to SOL while also allowing them to take advantage of rewards, which traditional ETFs do not provide. The potential launch of this ETF comes as interest in crypto-based investment products is growing.
Staking-enabled SOL ETF could redefine crypto investing for traditional investors
REX’s Solana ETF launch suggests a shift in the crypto investment space. This shows that there is strong demand for more advanced products that go beyond simple price tracking.
By incorporating staking, the new ETF offers the opportunity for passive income in addition to price appreciation. This may attract more conservative investors who want to enter the crypto market but still seek some form of dividend-like return in stocks.
If the $SOL ETF with staking support launches this week as indicated, it will be the first of its kind in the US market. It could also set the stage for other crypto ETFs with similar features to follow.
Many see this as a major step towards crypto adoption among mainstream investors. The market is now waiting to see if this new fund will live up to the expectations and drive further innovation in the sector.
Meanwhile, current CoinMarketCap data shows that SOL is trading at $157, up more than 4% in the last hour and with a 22.18% increase in trading volume to $3.06 billion.
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