First Spot Solana Staking ETF Launches with High Volume

REX Shares and Osprey Funds have launched the first spot Solana staking ETF, trading under the ticker SSK, achieving $33 million in trading volume on its first day.

This ETF is a significant step in crypto investments, offering staking rewards and influencing Solana’s market value and trading activity.

Solana Staking ETF Debuts with $8 Million Early Trades

The launch of the first Solana staking ETF marks a pivotal moment for crypto ETFs in the US. The fund managed by REX Shares and Osprey Funds saw strong initial demand with $8 million in early trading.

REX Shares outlined their commitment to offering staking rewards through their ETF, which attracted both institutional and retail investors. The ETF’s structure focuses on staking Solana to provide attractive annual yields.

Investor Enthusiasm Boosts Solana’s Market Capitalization

The positive market response was reflected in Solana’s market capitalization growth and increased price. Investor enthusiasm is anticipated to further encourage other staking ETF proposals awaiting SEC approval.

Analysts point to enhanced institutional interest as a driver for the ETF’s early success. Direct staking rewards delivered through the ETF demonstrate a new model for regulated investment products within the crypto sphere.

Distinct Approach: First ETF with Staking Rewards

Similar products, like Bitcoin and Ethereum ETFs, historically increased both asset prices and trading volumes upon approval. These ETFs did not offer staking rewards, marking this ETF as distinct.

James Seyffart, Senior ETF Analyst, Bloomberg, “First spot solana staking ETF is officially live. Healthy start to trading for a new ETF with ~$8 million in trading in first 20 min.”

Expert analysis suggests the ETF’s strong start may lead to broader adoption and acceptance of staking-based ETFs. This aligns with historic trends where innovative financial products attract considerable market interest and participation.