REX-Osprey has launched its Solana + Staking ETF (SSK), generating $33 million in trading volume during its debut. The fund provides investors with direct exposure to Solana (SOL) alongside monthly staking rewards, establishing a new milestone for cryptocurrency investment products.
Approximately 80% of SSK’s portfolio is allocated to Solana, with over half of these holdings actively staked through institutional validators including Galaxy and Figment. This staking mechanism generates yield for investors by leveraging Solana’s Proof-of-Stake protocol.
The fund utilizes the CME CF Solana-Dollar Reference Rate for pricing, marking a shift to spot market valuation that enhances transparency compared to futures-based ETF structures. This methodology provides direct alignment with underlying market prices.
The U.S. Securities and Exchange Commission (SEC) initially expressed concerns about the fund’s staking approach but ultimately cleared its launch. The approval sets a precedent for future crypto investment products incorporating staking features.
SSK’s launch outperformed initial trading activity of both Solana and XRP futures ETFs, signaling strong investor interest. The debut suggests growing demand for yield-generating crypto vehicles beyond conventional spot or futures structures.