The REX-Osprey Solana Staking ETF (SSK) launched with elevated trading activity, recording $33 million in first-day volume while navigating U.S. regulatory requirements. This surpasses trading levels observed in Solana and XRP futures ETFs, establishing a new benchmark for cryptocurrency-focused exchange-traded funds.
ETF architects structured 40% of assets into non-U.S. exchange-traded products to comply with the Investment Company Act of 1940, circumventing the SEC’s standard 19b-4 filing process. This regulatory accommodation enabled the fund’s launch despite ongoing governmental scrutiny of cryptocurrency products.
Solana’s market price demonstrated moderate gains following the ETF debut, rising 3.6% in 24 hours and 5% over the past week, though remaining below historic price peaks.
The ETF combines direct Solana exposure with staking yield generation, providing investors dual benefits of asset appreciation and passive income. Market analysts indicate this structure could influence future regulatory approaches to altcoin ETFs incorporating staking mechanisms.
Industry observers previously projected 95% probability for SEC approval of spot Solana ETFs by late 2024, potentially triggering further crypto ETF expansions.