The First ETF for Staking Solana in the US Debuts Modestly 🚀

The first ever Solana ETF with staking capabilities has launched in the US, attracting $12 million in investments and $33.6 million in trading volume on its first day. This product from Rex-Osprey marks a significant innovation as it offers access to SOL as well as yields through staking of at least 50% of assets.

Despite this important milestone, experts note that trading volume was 82% lower than expected based on comparisons of the market capitalization of SOL/BTC, indicating that institutional investors are still in the early stages of understanding the potential of Solana.

Currently, SOL is trading at around $153 (up 4.6% in 24 hours), having significantly decreased from its January peak of $293. The ETF is structured differently than previous spot crypto-ETFs, falling under the Investment Company Act, with Anchorage Digital serving as the custodian.

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The information provided above is not investment advice.