The imminent launch of the REX-Osprey SOL + Staking ETF marks the first investment product enabling passive income through Solana blockchain staking rewards. Initial market excitement is restrained by comparisons to established crypto trusts like Grayscale’s Ethereum Trust alongside worrisome ecosystem indicators.
Solana’s price has retreated below critical technical thresholds, including the 50-day simple moving average. A declining Relative Strength Index further signals building bearish momentum across markets.
Market watchers express caution as over $585 million worth of SOL tokens approach eligibility for unstaking soon, potentially accelerating sell pressure. This coincides with a sharp contraction in Solana’s on-chain liquidity, where total value locked has fallen to approximately $10.5 billion. Network revenue has plunged more than 90% since January.
Investors are monitoring key support levels at $143.10 and $126.48 for indications of deeper corrections. Analysts note that strong ETF subscription volumes could counteract downward pressure and reignite accumulation interest.