Solana ETF Debuts With $33 Million Trading Volume

Rex Shares, in collaboration with Osprey Funds, has launched the first U.S.-listed exchange-traded fund (ETF) that provides investors with exposure to Solana (SOL) and staking rewards. The REX-Osprey Solana + Staking ETF, trading under the ticker SSK, debuted on the Cboe BZX Exchange and recorded $33 million in trading volume and $12 million in inflows on its first day. This milestone marks a significant advancement in the crypto ETF landscape, as it offers investors a cost-effective and convenient way to gain exposure to Solana while earning staking rewards.

The SSK ETF is designed to hold the majority of its assets in directly staked SOL, with a portion in exchange-traded products that also stake SOL, and a small amount in liquid staking tokens. The fund aims to pass all staking rewards directly to investors, with neither REX nor Osprey retaining any portion. This structure allows investors to participate in Solana’s network economics while maintaining the convenience and transparency of an ETF.

Greg King, CEO of REX Financial, highlighted the significance of this launch, stating that it bridges the gap between traditional financial securities and crypto investments. The ETF provides a familiar format for securities investors to access crypto investments and blockchain-native returns, a first for the U.S. market. The fund is tailored to serve both retail and institutional investors, offering direct participation in native Solana staking and indirect staking through exchange-traded products that hold staked SOL.

The launch of the SSK ETF is a joint initiative between REX Financial, known for its thematic and alternative ETFs, and Osprey Funds, a digital asset specialist focused on crypto access and infrastructure. Together, they aim to develop products that combine the integrity of traditional financial structures with the transformative potential of blockchain technology.

Investors should be aware of the risks associated with the SSK ETF, including the extreme volatility of crypto assets, regulatory uncertainty, market manipulation, security risks, and technological changes. The value of the fund will fluctuate with the price of SOL, which is influenced by various factors such as network congestion, smart contract failures, and the emergence of competing platforms. Additionally, the fund is subject to staking risks, concentration risks, liquidity risks, new fund risks, counterparty risks, and smart contract risks.

The SSK ETF represents a pioneering step in the evolution of crypto ETFs, offering investors a unique opportunity to gain exposure to Solana and earn staking rewards within a regulated and transparent ETF structure. This launch is expected to attract both retail and institutional investors seeking to diversify their portfolios with crypto assets while benefiting from the stability and familiarity of traditional ETFs.