Solana Staking ETF Achieves $12M in Successful First Trading Day
The REX-Osprey Solana Staking ETF launched strongly on the Cboe BZX Exchange, recording $33 million in trading volume and $12 million in inflows. This debut highlights the growing appeal of crypto staking-enabled ETFs in the U.S. market. Trading under the ticker SSK, this ETF provides direct access to Solana (SOL) and its staking rewards.
Navigating Regulatory Challenges
The ETF faced initial resistance from the SEC but successfully adapted by structuring under the Investment Company Act of 1940. This strategic move bypassed traditional filing requirements, demonstrating flexibility in crypto financial innovation.
Analysts Forecast Growth for Crypto ETFs
Market experts Eric Balchunas and James Seyffart praised the ETF’s robust start. They estimate a 95% likelihood that spot Solana, XRP, and Litecoin ETFs will gain approval by year-end, reflecting increasing institutional confidence.
- First-day trading volume reached $33 million
- Initial inflows totaled $12 million
- Solana’s price increased by 3.6% within 24 hours
Market and Institutional Engagement
Following the launch, Solana’s price experienced moderate growth. Simultaneously, Solana CME futures witnessed unprecedented demand, with open interest climbing to $167 million. This trend underscores growing institutional interest in Solana and related financial instruments.