REX-Osprey Solana Staking ETF Sees Strong Debut Volume Amid Potential for Spot Solana ETF Approval

Key Points

1. The ETF structured 40% of its assets into non-U.S. exchange-traded products to comply with the Investment Company Act of 1940, bypassing the SEC's 19b-4 filing process.

2. First-day trading volume reached $33 million, surpassing existing Solana and XRP futures ETFs and setting a high benchmark for future crypto ETFs.

3. Solana's spot price showed a moderate increase (3.6% in 24 hours, 5% weekly) despite the ETF's strong debut, remaining below its all-time high.

4. Bloomberg analysts estimate a 95% probability of SEC approving spot Solana ETFs by end of 2024, potentially leading to more crypto ETFs in 2025.

5. The ETF offers dual benefits: direct Solana exposure and passive income through staking yields, which may influence future SEC decisions on altcoin ETFs.