In the midst of the digital finance boom, the United States is about to welcome a groundbreaking cryptocurrency financial product—the first cryptocurrency ETF that allows investors to earn additional income through staking. A summer frenzy of digital coin ETFs is quietly beginning.
The highly anticipated REX-Osprey Sol + Staking ETF (SSK) has smoothly obtained the 'green light' from regulators and will officially be listed for trading on Wednesday. This landmark event is seen as a significant breakthrough for the industry following the Trump administration's relaxation of digital asset regulations, injecting a shot of adrenaline into the cryptocurrency market.
The secret of the 'money-raising' allure of new cryptocurrency ETFs.
The core highlight of SSK lies in its unique 'staking' mechanism. In short, investors stake Solana tokens to the blockchain network, assisting in transaction validation, and the network pays corresponding 'salary' returns, similar to interest on bank deposits.
Affected by this positive news, the price of Solana tokens rose by 6%, climbing to about $158, and has since slightly retreated to around $155 as of the time of publication. Over the past week, Solana has surged over 12%, but still has a 46% gap from its historical high in January, with its current market capitalization of $83.5 billion firmly ranking it sixth in the cryptocurrency market.
The key to unlocking the 'summer frenzy of altcoin ETFs'.
Market analysts predict that the approval of SSK may trigger a 'summer frenzy of altcoin ETFs', with more cryptocurrency ETF products expected to receive approval in the coming months.
Currently, the existing Solana-related ETFs in the market, such as Volatility Shares' SOLZ and leveraged product SOLT, are all futures products and cannot provide investors with the unique advantage of staking income.
As the first spot ETF for Solana, SSK will open up new avenues for investors to participate in cryptocurrency staking through the ETF. Unlike previous cryptocurrency ETFs that only held digital assets, SSK will allocate part of its funds to staking on Solana network validator nodes, thereby earning additional reward income.
In the Solana network ecosystem, staking is vividly likened to 'fixed deposits of digital assets'. Stakers engage in transaction validation work to ensure network security, and in return, receive newly issued SOL token rewards. Even if the SOL price fluctuates little within a range, investors can still gain stable passive income through staking; if the SOL price declines, it can effectively offset some losses.
To meet SEC regulatory requirements, the fund has designed an innovative investment structure, allocating at least 40% of its assets to other ETFs and exchange-traded products, primarily tracking Solana and staking-related products, with most underlying assets being compliant products outside the United States. This structure not only complies with the regulatory requirement that 'investment companies must primarily invest in securities' but also ensures direct investment exposure to Solana.
Currently, SSK's fee rate is set at 0.75%.
The horn of industry transformation has sounded.
Strahinja Savic, head of data analysis at FRNT Financial, points out that allowing ETFs to offer staking income is a key step in the deep integration of the public market with the crypto economy, showcasing the Trump administration's proactive stance in paving the way for cryptocurrencies to integrate into the U.S. economic public market system.
Industry analysts are confident about the subsequent developments. Nate Geraci, president of ETF Store, believes this marks the unofficial kickoff of the 'summer of crypto ETFs', indicating that a wave of cryptocurrency ETF issuances is likely to arrive in the coming months, and suggesting that the staking function approval for spot Ethereum ETFs may be imminent.
As early as June, Bloomberg senior ETF analyst Eric Balchunas predicted that multiple such funds are expected to be approved in July, with Solana likely to take the lead.
Currently, many fund issuers, including Grayscale and Bitwise, have submitted ETF applications to the SEC tracking cryptocurrency portfolios, aiming to provide investors with a wide range of market investment opportunities. The SEC must make a decision by July 2, and Bloomberg analysts have given a high approval probability of up to 90%, with the entire industry holding its breath for this historic moment.
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