SSK Makes Strong Debut as First US Solana Staking ETF, Logs $33M Volume
2025-07-03 21:24:04
Main Idea
The first US Solana staking ETF, trading under the ticker SSK, debuted with notable trading volume, though significantly less than spot Bitcoin ETFs, and utilized a unique structure bypassing standard SEC filing processes.
Key Points
1. The REX-Osprey Solana Staking ETF (SSK) is the first of its kind in the US, launched amid growing interest in crypto-related ETFs.
2. Its trading volume outperformed Solana and XRP futures ETFs but was far below the $4.6 billion first-day activity of spot Bitcoin ETFs in January 2024.
3. The ETF bypassed the standard 19b-4 filing process by leveraging the Investment Company Act of 1940 and allocates 40% of its assets to non-US exchange-traded products.
4. Bloomberg analyst James Seyffart described the ETF's debut as a 'healthy start,' with analysts predicting a 95% probability of similar approvals by year-end.
5. Anchorage Digital serves as the ETF’s staking and custody provider, following prior regulatory challenges with the SEC.
Description
The first US Solana staking ETF has wrapped up its opening session with significant momentum. The new fund attracted $12 million in inflows and closed the day with $33 million in trading volume, according to Bloomberg ETF analyst Eric Balchunas. SSK Outperforms Solana, XRP Futures Volume Trading under the ticker SSK on the Cboe BZX Exchange, the REX-Osprey Solana Staking ETF is the first of its kind in the United States, which provides direct exposure to spot Solana while allowing investors to c...
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