Solana ETF with Staking Feature Debuts, Attracting $12 Million

Key Points

1. The REX-Osprey Solana Staking ETF (SSK) launched on the CBOE BZX exchange, attracting $12 million in trading volume on its first day.

2. Bloomberg ETF analyst James Seyffarth noted $8 million in volume within the first 20 minutes, describing the debut as 'healthy.'

3. SSK's launch outperformed initial trading of Solana and XRP futures ETFs but was surpassed by Bitcoin futures ETFs.

4. The ETF operates under the Investment Company Act of 1940, bypassing the standard Form 19b-4 filing process required for spot ETFs, described as a 'regulatory workaround.'

5. Anchorage Digital serves as the staking and custody partner for SSK, while open interest in Solana futures on the CME reached a record $167 million.

6. Spot Bitcoin ETFs in the US saw a resurgence in inflows, with over $1 billion invested over two days, reversing previous outflows.