Skip to content

Asia Morning Briefing: SOL up 4% as Analysts Say Staking ETF (SSK) Has Strong Launch

2025-07-03 02:24:50

Asia Morning Briefing: SOL up 4% as Analysts Say Staking ETF (SSK) Has Strong Launch

Main Idea

The REX-Osprey Solana + Staking ETF (SSK) performed better than average on its first trading day, while BlackRock's Bitcoin ETF (IBIT) now generates more revenue than its flagship S&P 500 fund, highlighting growing institutional interest in crypto.

Key Points

1. The REX-Osprey Solana + Staking ETF (SSK) ended its first trading day with $33 million in volume, outperforming average ETF launches and Solana/XRP futures ETFs.

2. SOL's price rose roughly 4% to above $150 following the ETF news, though its volume was lower than BTC and ETH ETF launches.

3. BlackRock's iShares Bitcoin ETF (IBIT) is generating more annual revenue ($187.2M) than its flagship S&P 500 ETF (IVV), despite having fewer assets under management ($75B vs. $624B).

4. IBIT's higher fee (0.25% vs. IVV's 0.03%) reflects institutional demand for Bitcoin exposure through trusted wrappers like BlackRock.

5. Bitcoin (BTC) surged 3.6% to break above $109,000, while Ethereum (ETH) rose 8.6% to $2,608, both supported by strong trading volume and improving market sentiment.

Description

Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. The newly launched REX-Osprey Solana + Staking ETF (SSK) , the first crypto staking exchange-traded fund (ETF) listed in the U.S., ended the day with $33 million in volume, with Bloomberg ETF analyst Eric Balchunas calling the l...

>> go to origin page
Tags:
Markets SOL Solana News
$XRP
$2.2766
+1.13%
$BTC
$109593.3
+0.11%
$IP
$2.913
--2.08%
$ETH
$2582.74
+0.10%
$SOL
$151.55
--0.42%

Latest News