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Coinpaper 2025-07-05 15:53:13

Solana ETF with Staking Feature Debuts, Attracting $12 Million

The first Solana-based ETF with staking capabilities, the REX-Osprey Solana Staking ETF (SSK), has launched in the United States, according to Bloomberg ETF analyst Eric Balchunas. On its first day of trading on the CBOE BZX exchange, SSK attracted $12 million in inflows with a total trading volume of $33 million. The fund offers investors direct exposure to spot Solana as well as access to staking yields. Bloomberg ETF analyst James Seyffarth described the trading debut as “healthy,” noting that $8 million in volume was recorded within the first 20 minutes. Balchunas further noted that SSK’s launch significantly outperformed the initial trading of Solana and XRP futures ETFs, although it was surpassed by the debut of spot Bitcoin and Ethereum funds. Regulatory Highlights The fund is structured under the Investment Company Act of 1940, which allows it to bypass the standard Form 19b-4 filing process typically required for spot ETFs. Nate Geraci, President of NovaDius Wealth Management, described this approach as a “regulatory workaround.” Anchorage Digital serves as both the staking and custody partner for SSK. Growing Institutional Interest The launch of SSK coincided with a surge in institutional interest in Solana. Open interest in Solana futures on the CME reached a record $167 million, signaling increased attention from institutional investors. Meanwhile, spot Bitcoin ETFs in the US have returned to positive capital inflows. Over the course of two days, investors poured more than $1 billion into these funds, offsetting a previous outflow of $342.2 million. On July 2, net inflows totaled $407.8 million, followed by $601.8 million the next day. Fidelity’s FBTC fund led the way, attracting $184 million and $237.1 million on those respective days. BlackRock’s IBIT fund also saw strong interest, raising $224.5 million on July 3 after two days of zero flows.

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