REX Shares and Osprey Funds selected Anchorage Digital as the exclusive custodian and staking partner.
The REX-Osprey Solana + Staking ETF (SSK) has already begun trading on the Cboe exchange.
Anchorage Digital will custody and stake the assets of the fund.
This is the first cryptocurrency staking exchange-traded fund listed in the United States.
REX Shares and Osprey Funds have chosen Anchorage Digital as the exclusive custodian and staking partner for their newly launched REX-Osprey Solana + Staking ETF (SSK), which is the first cryptocurrency staking exchange-traded fund (ETF) listed in the United States.The fund provides investors with exposure to Solana, with a risk exposure of $155.76, while generating staking rewards, and began trading on the Cboe exchange at $25.47 per share on Wednesday.
Nathan McCauley, CEO and co-founder of Anchorage Digital, stated in a press release: 'Staking is the next chapter in the cryptocurrency ETF story.' The launch of the cryptocurrency staking ETF marks a victory for consumers and is a significant step forward in fully accessing the cryptocurrency ecosystem.
The ETF offers investors indirect exposure to Solana while also participating in the blockchain's staking mechanism, which provides additional yield by helping to secure the network. Staking allows holders of certain cryptocurrencies to earn rewards by locking their tokens into the network, a process that previously required technical know-how and direct interaction with the crypto protocols.
By packaging staking into the ETF structure, REX Shares and Osprey aim to make the process accessible to a broader range of investors through traditional brokerage accounts.
In the past 24 hours, SOL has risen by 2% to $150.
