Solana ETF by REX Shares will begin trading on Wednesday, offering spot exposure and staking income.
SOL price increased 0.76% to $151.41, triggering $9 million in short liquidations and gaining 3% in seven days.
Solana's DEX volumes have surpassed Ethereum’s, with key platforms including Raydium, Pump.fun, and Orca.
Solana’s price saw a significant upward movement following the confirmation of the first U.S.-based staked crypto ETF. Issuer REX Shares announced that the ETF will launch on Wednesday, offering investors direct exposure to SOL along with staking rewards. The announcement had immediate market effects, including millions in short position liquidations and a sharp rise in Solana’s price.
ETF Confirmation Triggers Volatility
REX Shares confirmed on Monday that the fund, named REX-Osprey, will begin trading this week. It will provide access to spot Solana while distributing staking income. This marks the first time a U.S. exchange-traded fund has incorporated staking rewards into its structure.
https://twitter.com/REXShares/status/1938719417258647982
The decision follows recent engagement with the Securities and Exchange Commission (SEC), which provided feedback on the ETF’s C-Corp business model. The SEC did not object to staking under current securities regulations but delayed a broader decision on altcoin-focused ETFs. Following this announcement, CoinMarketCap data indicates that Solana has recorded an uptick of 0.76% to a trading level of $151.41.
Source: CoinMarketCap
As confirmed by a post by Solanafloor on X, this movement triggered nearly $9 million in short position liquidations, reflecting a swift market reaction. Over the past seven days, SOL has gained more than 3%. Despite this increase, Solana remains 48.59% below its all-time high recorded in January, when it traded at a price value of $294.33.
Regulatory Developments, DEX Activity, and Broader Market Position
The ETF’s structure allows investors to earn yield through staking while gaining direct spot exposure. The regulatory groundwork was laid after the SEC’s May ruling that staking did not violate federal securities law. Although the regulator postponed a broader stance on staked ETFs, the REX-Osprey fund proceeded following positive discussions and an amended prospectus.
Market analysts tracking ETF developments believe more altcoin funds may follow. Bloomberg ETF analyst Eric Balchunas noted in June that multiple altcoin ETFs were progressing through regulatory review. Solana was named among the leaders likely to reach market approval first.
In addition to ETF-related news, SOL continues to show strength in decentralized exchange activity. DEX volumes on SOL have recently surpassed those of Ethereum, driven by increased trading on platforms like Raydium, Pump.fun, and Orca. At its current price, Solana holds a market capitalization of $83.5 billion, ranking sixth among global cryptocurrencies.
