The US is About to Get its First Solana Staking ETF This Week
2025-07-01 06:12:02
Main Idea
The REX-Osprey Solana Staking ETF (SSK) will launch on July 2 as the first US ETF allowing investors to earn staking rewards from Solana, following regulatory compromises to address SEC concerns.
Key Points
1. The ETF will invest at least 40% of its holdings in other ETFs, mostly outside the US, to comply with SEC regulations.
2. Solana's price rose 5.3% to $158 after the announcement but later retreated to $153.
3. The ETF's approval is seen as a step toward mainstream crypto adoption, though Solana remains down nearly 50% from its January all-time high.
4. The fund faced initial SEC objections over whether it qualified as an 'investment company' before reaching a compromise.
5. Industry analysts view the ETF as a significant development for crypto's integration into public markets.
Description
The REX-Osprey Solana Staking ETF will be launched on July 2 under the ticker SSK as the first US ETF allowing investors to earn rewards by staking Solana tokens to validate blockchain transactions. The new yield-chasing crypto fund tracking Solana has been cleared for debut, according to Bloomberg, citing a person familiar with the matter. Bloomberg’s ETF analyst Eric Balchunas explained that the fund has circumvented regulatory hurdles by investing 40% of its holdings in other Solana exchange-...
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