The REX-Osprey Solana Staking ETF has launched, offering a new opportunity for US investors to own Solana (SOL) while earning staking rewards.
It marks the first US-listed crypto ETF to combine token exposure and staking rewards in one regulated structure.
REX-Osprey Solana Staking ETF
According to a press release, the REX-Osprey Solana Staking ETF (SSK) has launched for investors who need exposure to Solana while also earning staking rewards.
The fund is a breakthrough in the US crypto ETF community as it can offer the positive aspects of owning the Solana token and increase the yield through staking to appeal to investors.
The ETF aims to provide direct spot exposure to Solana and does not present the issues that futures-based crypto ETFs present.
In addition to direct exposure, the ETF also offers the benefits of staking rewards, where Solana currently offers a staking rate of 7.3%. The ETF will hold the majority of its assets in staked SOL tokens, with the goal of rewarding investors through the blockchain.
Anchorage Digital as Custodian and Staking Partner
The new ETF has signed Anchorage Digital as its sole custodian and staking partner. Anchorage is a federally chartered digital asset bank with a reputation for regulatory compliance and safeguarding the management of digital assets.
The partnership provides the fund with stringent requirements for obtaining investment product listings in the US and provides stability and transparency to investors there.
Anchorage will hold and hold the assets in the ETF, using its secure platform to manage the relevant digital assets on behalf of the fund.
Anchorage Digital CEO, Nathan McCauley, commented that the next chapter in the crypto ETF story is staking, and that it is becoming more important than ever in the digital asset space.
The ETF is then able to deliver staking rewards in a strictly compliant and secure manner.
Bloomberg analysts weigh in.
Following the launch, Bloomberg analyst James Seifert said,
“ First spot Solana staking ETF has officially launched. Good first-day opening to a new ETF with an opening ~$8 million trading in the first 20 minutes.”
This reflects the market’s strong reception, as seen in the initial trading volume. Such a strong start demonstrates that there is definite demand for the fund and the growing popularity of staking-based structures in the US market.
Meanwhile, Bloomberg analysts are predicting a 95% chance that the SEC will approve additional Solana ETFs in 2025, in line with the 99% chance of Polymarket’s approval.
The green light for the REX-Osprey Solana ETF could in turn pave the way for additional staking-based ETFs, as a host of other companies have already filed applications for Solana-related products with the SEC.
Firms such as VanEck, 21Shares, Canary Capital, Bitwise, Grayscale, Franklin Templeton, Fidelity, Invesco, and Galaxy Digital have filed Solana ETF applications with the US Securities and Exchange Commission (SEC).