Solana ETF SSK Debuts With $33 Million Volume, $12 Million Inflows

The REX-Osprey Solana + Staking ETF, trading under the ticker SSK, began trading on the Cboe exchange on July 2, 2025. This ETF offers investors direct exposure to Solana (SOL) and its staking rewards, marking a significant development in the crypto investment landscape. The fund concluded its first trading session with an estimated $33 million in volume and reported $12 million in net inflows, indicating strong early interest from investors.

SSK is structured under the Investment Company Act of 1940, adhering to strict investor protection and asset custody requirements. Anchorage Digital serves as both the custodian and staking provider for the ETF, being the only federally chartered crypto bank approved to perform both roles. Approximately 80 percent of the ETF’s holdings are allocated to Solana (SOL), with at least half of that portion staked through trusted institutional validators, including Galaxy and Figment. The rest of the portfolio includes liquid staking tokens such as JitoSOL and other Solana-related exchange-traded products listed outside the U.S.

The ETF’s spot pricing model offers more accurate Solana price tracking compared to traditional futures-based cryptocurrency funds. SSK uses the CME CF Solana-Dollar Reference Rate to reflect the actual market price of Solana, allowing closer price tracking and reducing the volatility and deviation from spot prices experienced by futures-based products. This model enhances the ETF’s ability to track the market accurately, providing investors with a more reliable exposure to Solana’s price movements.

The launch of SSK follows months of review by the U.S. Securities and Exchange Commission, which had previously raised concerns about the fund’s structure and staking method. By June 28, the SEC had issued no further comments, effectively enabling the product to move forward. The ETF distributes staking rewards to investors through monthly cash payouts, offering a regulated and secure way for investors to gain exposure to Solana’s staking rewards. With nine additional Solana ETF applications currently under SEC review, SSK’s structure and performance may influence future staking-based ETF designs in the U.S. market.