SEC Reviews Solana ETF With Staking Feature SOL Price Rises 151

The U.S. Securities and Exchange Commission (SEC) is currently reviewing a proposal submitted by REX Financial and Osprey Funds for a new exchange-traded fund (ETF) based on Solana (SOL). If approved, this ETF would be the first of its kind in the United States to include a staking feature for a digital asset. The proposal aims to provide institutional and retail investors with direct exposure to the performance of SOL, along with the option to earn staking rewards. Staking involves locking up tokens to support the security and operations of a blockchain network, with participants receiving periodic rewards in return. This process is integral to networks like Solana, which use a proof-of-stake model to validate transactions and maintain consensus.

The inclusion of staking in an ETF format represents a novel structure in regulated markets. Traditionally, crypto ETFs in the U.S. have only tracked price performance. The approval of this fund would mark the first instance where staking returns are incorporated into a product’s strategy under SEC oversight. Following the announcement, the price of SOL experienced a slight upward movement, reaching $151 during the day. This limited reaction in the market reflects the growing trend of price movements related to ETF speculation, as several firms seek approval for crypto-based investment products.

Osprey Funds has previously launched products based on other cryptocurrencies, including Bitcoin and Ethereum, although with varied investor interest. REX Financial, a lesser-known player, has partnered as a co-sponsor in the application. The market is now closely watching the $160 resistance level as the next key breakout zone before targeting the 200-day moving average and beyond. The approval of this ETF could signal institutional validation for Solana, setting it up for direct exposure in retirement portfolios and traditional financial products.