Solana News Today: REX-Osprey's $SSK ETF pioneers U.S. inclusion of jitoSOL LST merging staking rewards with tradable liquidity

REX-Osprey’s Solana Staking ETF ($SSK) has made history by incorporating $jitoSOL, a Liquid Staking Token (LST), into its portfolio, marking the first U.S. ETF to include an LST as a core component. The announcement, made on July 24, positions $SSK as a pioneering vehicle for institutional-grade exposure to Solana (SOL) through a combination of native staking rewards and liquidity-enhanced structures. By integrating $jitoSOL—Jito’s LST—the fund aims to balance Solana’s native staking incentives with the flexibility of tradable tokens, aligning with broader trends of bridging traditional finance (TradFi) and decentralized ecosystems.

The inclusion of $jitoSOL, which now constitutes 0.33% of the fund’s assets under management (AUM), underscores growing institutional confidence in LSTs as a solution for yield optimization and risk mitigation. Thomas Uhm, Chief Operating Officer of Jito, emphasized that LSTs address critical challenges such as redemption liquidity while maintaining compatibility with traditional financial infrastructure. This move also reflects the maturation of the crypto asset class, as even non-traditional ETFs like $SSK have attracted over $130 million in AUM within three weeks of launch.

Greg King, CEO of REX Financial and Osprey Funds, highlighted the strategic significance of the integration: “By combining native $SOL with $jitoSOL’s liquidity-staking capabilities, we’re enhancing accessibility to Solana’s ecosystem while preserving compliance with U.S. regulatory frameworks.” The ETF’s structure circumvents regulatory uncertainties by pairing direct $SOL holdings with shares of the 21Shares Solana Staking ETP, a hybrid approach that has enabled rapid market adoption.

The decision to include $jitoSOL comes amid broader momentum for Solana’s LST market. Since July 2024, the network’s LST staking rate has doubled to 14.42%, with $jitoSOL dominating 30.53% of the total LST market share. This growth trajectory aligns with Jito’s recent launch of BAM (Block Assembly Marketplace), a reimagined block-building architecture aimed at enhancing transaction privacy and composability. While BAM has garnered optimism for fostering innovation in Solana’s ecosystem, some developers, including former Solana engineer Trent.sol and Fluxbeam founder Scott Hague, have raised concerns about potential centralization risks. These debates underscore the ongoing tension between scalability and decentralization in emerging blockchain protocols.

The integration of $jitoSOL into $SSK reflects a broader shift in institutional capital flows toward Solana-based assets. As of the announcement, $SSK had already set a precedent by becoming the first U.S. ETF to track Solana’s price, leveraging a mix of direct holdings and ETPs to navigate regulatory hurdles. This strategy positions the fund to capitalize on anticipated demand for Solana exposure, particularly as competing ETF applications await approval from U.S. regulators.

For investors, the inclusion of $jitoSOL represents a dual benefit: exposure to Solana’s native staking rewards and the ability to manage liquidity risks through tradable tokens. Analysts note that this structure could appeal to a wider range of institutional players seeking compliance with TradFi norms while participating in blockchain innovation. However, the long-term success of the approach will depend on Solana’s ability to sustain network growth and address concerns around protocol governance.

Source: [1] [REX-Osprey 选择 $jitoSOL 作为索拉纳盯市 ETF 的 LST 成分股] [https://solanafloor.com/zh/news/rex-osprey-chooses-jitosol-lst-component-solana-staking-etf]