Imminent Launch: The first U.S. Solana spot ETF with staking, led by REX Shares, may go live this week, per Bloomberg analysts.
Innovative Structure: The ETF uses a C-corporation framework, bypassing traditional SEC filing hurdles, enabling faster market entry.
Staking Benefits: Investors could earn passive income through Solana’s on-chain staking rewards, a first for U.S. crypto ETFs.
Market Impact: Solana’s price rose 2% to $155, with a 95% chance of SEC approval in 2025, signaling strong institutional interest.
Regulatory Shift: The SEC’s openness to staking suggests evolving attitudes toward proof-of-stake cryptocurrencies.
The cryptocurrency market is buzzing with anticipation as REX Shares prepares to launch the first U.S. Solana spot ETF with staking, potentially as early as this week, according to Bloomberg analyst James Seyffart. This groundbreaking exchange-traded fund (ETF), named the REX-Osprey SOL + Staking ETF, promises to combine direct exposure to Solana’s price with the ability to earn staking rewards, a feature previously unavailable in U.S. crypto ETFs. This development could reshape how traditional investors engage with digital assets, bridging the gap between decentralized finance (DeFi) and regulated markets.
What Makes This ETF Unique?
Unlike traditional ETFs that only track an asset’s price, the REX-Osprey SOL + Staking ETF allows investors to benefit from on-chain staking rewards. In Solana’s proof-of-stake (PoS) system, token holders lock up their SOL to validate transactions and secure the network, earning an estimated 8% annual yield—far higher than Ethereum’s 2-4% staking returns. This ETF will hold SOL directly, tracking its market price while passing staking rewards to investors, offering a passive income stream akin to dividends in traditional stocks.
The ETF’s structure is a notable innovation. REX Shares has employed a C-corporation framework, a rare approach in the ETF space that bypasses the SEC’s standard 19b-4 filing process. This “regulatory end-around,” as described by Bloomberg’s Eric Balchunas, allows the fund to launch faster by avoiding lengthy approval cycles. While this structure incurs corporate taxes that may affect the fund’s net asset value, the staking rewards could offset these costs, potentially delivering higher net yields to investors.
Why Solana
Solana has emerged as a leading blockchain due to its high-speed transactions and low fees, making it a favorite for DeFi and non-fungible token (NFT) applications. As of June 30, 2025, SOL trades at $155, up 2% in the past 24 hours, with trading volume surging 45% to $3.66 billion. The network’s robust adoption and $730 million in recent staking deposits signal strong investor confidence, despite a recent 9% price dip. The ETF’s launch could further boost Solana’s appeal, drawing both retail and institutional investors seeking regulated exposure to this fast-growing altcoin.
BREAKING:REX OSPREY SAYS ITS SOL PLUS STAKING ETF IS COMING SOON, THE FIRST OF ITS KIND IN THE US.THE SEC HAS NO FURTHER COMMENTS, ACCORDING TO ERIC BALCHUNAS. pic.twitter.com/6zpZzpSggL
— DustyBC Crypto (@TheDustyBC) June 28, 2025
Regulatory Green Light
The SEC’s apparent openness to staking in this ETF marks a shift from its previous stance. For instance, Ethereum ETFs approved in 2024 excluded staking due to regulatory concerns. The REX-Osprey ETF’s progress, with the SEC issuing no further comments on its updated prospectus, suggests a more accommodating regulatory environment under new leadership. Analysts estimate a 95% chance of Solana ETF approval in 2025, with some predicting a launch as early as July, potentially sparking significant capital inflows similar to Bitcoin’s ETF-driven surge in 2024.
Market Implications
The launch of a staking-enabled Solana ETF could set a precedent for other PoS cryptocurrencies, such as Ethereum or Cardano, to follow suit. By offering a regulated product that combines price exposure with yield generation, REX Shares is addressing a long-standing demand from investors wary of crypto’s technical complexities. This ETF could attract conservative investors, including retirement funds, who seek crypto exposure without managing wallets or validators.
However, risks remain. Staking involves slashing risks, where validators may lose funds due to network penalties, and market volatility could impact SOL’s price. Despite these challenges, the ETF’s institutional-grade custody and regulatory oversight provide a safer entry point for traditional investors.
Statistic Value Source SOL Price $155 CoinMarketCap 24-Hour Trading Volume $3.66 billion CoinGape Staking Inflows (June 2025) $730 million CoinSpeaker SOL ETF Approval Odds (2025) 95% CryptoPotato
Looking Ahead
The REX-Osprey SOL + Staking ETF could mark a turning point for crypto adoption, blending DeFi’s yield-generating potential with the accessibility of traditional finance. As Solana continues to gain traction—evidenced by its $730 million in staking inflows and futures trading on the Chicago Mercantile Exchange—the ETF’s launch may catalyze further institutional investment. With analysts projecting SOL could reach $300 or even $1,000 in optimistic scenarios, this week’s potential launch is a development to watch closely.
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