The United States is preparing to launch the first exchange-traded fund (ETF) that allows earning returns from the staking mechanism of the Solana currency, a step considered the first of its kind in the U.S. market.
The 'REX-Osprey Solana Staking ETF' is set to be listed under the symbol 'SSK' on July 2, designed to enable investors to earn rewards by depositing SOL coins to validate blockchain transactions.
According to reports by Bloomberg from informed sources, the new fund has overcome regulatory hurdles after adjusting its structure to invest at least 40% of its assets in exchange-traded funds tracking Solana, most of which are outside the United States, which facilitated regulatory approval.
The fund initially faced objections from the U.S. Securities and Exchange Commission (SEC), which questioned its legal eligibility as an investment company, but a solution was reached by expanding the investment scope to include products considered securities under traditional classifications.
Analysts believe that this step represents an important development in integrating the digital economy with public financial markets.
Strahinja Savic from FRNT Financial commented that allowing funds to offer returns on cryptocurrency investments reflects an increasing convergence between the financial systems and paves the way for broader expansion of cryptocurrency usage within the U.S. economy.
This launch follows similar funds such as 'SOLZ' and 'SOLT' from Volatility Shares, which offer exposure to Solana through futures contracts and using leverage.
On the other hand, the Solana currency recorded an increase of 5.3% immediately after the news was released, exceeding $158 before retreating to around $153.
Despite this momentary volatility, the currency is still achieving weekly gains exceeding 7%, but it remains down about 50% from its peak recorded last January.
