After the U.S. Securities and Exchange Commission (SEC) responded "no further comments" to REX Shares' application for the SOL Ethereum staking ETF (code SSK) last week, REX Shares announced on July 1st that it will launch the first U.S. staking cryptocurrency ETF, the "REX-Osprey SOL + Staking ETF," this Wednesday.
This ETF will track the price movements of Solana (SOL) and obtain additional income through on-chain staking. If successfully launched, it will be the first cryptocurrency ETF in the U.S. that combines staking returns.
Product advantages
1. Provide compliant PoS income channels for institutional investors
2. Retail investors can participate through their brokerage accounts without needing to operate staking or manage private keys themselves.
Nate Geraci, president of ETF Store, believes that if this product is successfully launched, it will "drive staking ETFs to become a new market trend."
After the news was announced, the SOL price briefly approached $160 but then fell back to $153.87 (as of press time). The market is closely watching whether it can be launched as scheduled on Wednesday and the subsequent market reaction.
Bloomberg analysts: LTC, XRP… ETF is also coming soon.
Bloomberg ETF analyst Eric Balchunas predicts that cryptocurrency ETFs that may be approved in the second half of this year include:
High probability (95%): SOL, LTC, XRP
High probability (90%): DOGE, ADA, DOT, and other altcoins
My speculation about the future trend of $SOL is:
In the short term, after the SOL ETF is listed tomorrow, the market will likely sell the news, so $SOL will likely experience a short-term pullback.
In the medium term, the listing of the SOL ETF is expected to drive a wave of price increase for $SOL, likely challenging previous highs.
With Ethereum showing signs of weakness, Solana is the most likely to replace Ethereum as the second-largest public chain. Therefore, if traditional institutions buy altcoin ETFs, the first choice will be the SOL ETF.
Based on this year's Solana rebounds and declines, a summary of short to medium-term contract trading insights: in a market that does not drop below 120 and does not break above 180, do not chase shorts below 137 and do not chase longs above 158. For spot trading, buying can be done in batches as long as it is below 120.
