The United States has witnessed the launch of its first Solana-based ETF with a staking feature — the REX-Osprey Solana Staking ETF (SSK). This was reported by Bloomberg analyst Eric Balchunas.
On its first trading day on CBOE BZX, the product attracted $12 million with a volume of $33 million.
SSK offers investors direct access to spot Solana and staking yields.
Bloomberg analyst James Seyffart described the start of trading as “healthy,” noting a volume of $8 million in the first 20 minutes.
Balchunas added that SSK’s performance significantly outpaced the launch of Solana and XRP futures ETFs, though it lagged behind Bitcoin and Ethereum spot funds.
The fund is structured in accordance with the Investment Company Act of 1940. This allowed it to bypass the standard 19b-4 filing process required for spot ETFs. Nate Geraci, president of NovaDius Wealth Management, described this structure as a “regulatory workaround.”
Anchorage Digital serves as the staking and asset custody partner for SSK.
Following the ETF’s launch, open interest in Solana futures on the CME reached a record $167 million, indicating growing institutional interest.
Spot Bitcoin ETFs in the U.S. have returned to capital inflows. Over two days, investors poured more than $1 billion into them, offsetting an outflow of $342.2.
On July 2, the net inflow was $407.8 million, followed by $601.8 million the next day. The leader was Fidelity’s FBTC fund with figures of $184 million and $237.1 million, respectively. BlackRock’s IBIT fund, after two days of zero flows, attracted $224.5 million on July 3.
Back in June, Balchunas predicted a “summer of altcoin ETFs.” He suggested that by July, the U.S. Securities and Exchange Commission might approve instruments based on a basket of cryptocurrencies, followed by a decision on Solana-based funds.
