I see that REX-Osprey is set to launch the first **Solana staking ETF (code SSK)** in the US tomorrow (July 2nd). Brother, this matter is not simple. Let me break down my real thoughts for you, using our trading logic, to see through it from several perspectives:

1. Earning staking rewards passively, a new way of generating income

Previously, when buying SOL ETFs, you could only bet on the rise and fall of the coin price, but this time REX's ETF directly packages on-chain staking rewards (annualized expected 5%-7%) and distributes them to you. It's equivalent to buying the ETF = holding SOL + automatically earning interest; even if the coin price is stagnant, you can still make money, which is hugely attractive to conservative institutions and retail investors.

2. Using 'Company C + Cayman structure' to exploit regulatory loopholes, smart!

Traditional ETFs take at least half a year to get through SEC approval (19b-4 process), but REX registered as a Class C company using the 1940 (Investment Company Act) and set up a Cayman Islands subsidiary specifically for staking dirty work.

- The clever part is this: the SEC can't reach the Cayman subsidiary, and staking income is distributed under the name of "dividends" (taxes might be higher), but it perfectly avoids the SEC's most sensitive issue of "staking = securities" dispute. This trick will definitely be copied in the future.

💰 2. Impact on the market: Is SOL about to take off? Is the altcoin season really here?

1. SOL will definitely bleed out in the short term

- As soon as the news broke, SOL immediately rose by 4%, with on-chain whales moving $1.3 billion in SOL in advance; this is not retail behavior.

- After the ETF is listed, institutions won't need to buy coins, store them in wallets, or stake them; they can just buy SSK with one click. Incremental funds coming in can't be stopped, especially those traditional funds that are afraid of custody risks.

2. The staking sector is fully activated; who will be next?

- Once REX's ETF is successful, there will immediately be people copying: ETH staking ETF (ESK code is ready), MATIC, ADA, AVAX are all likely to follow.

- Brother, the valuation of staking service providers (like Lido, Rocket Pool) needs to be reassessed; they are the real "shovel stocks."

Summary

Staking rewards are packaged as compliant financial products → Traditional asset management giants come in and buy up → The value of all income-generating public chain tokens is reassessed. #Solana质押型ETF