Solana News Today: "Staking Meets Mainstream: How SSK ETF Is Rewriting Crypto Investing"

REX Shares has filed a prospectus for a Solana Staking ETF, marking a novel development in crypto investment vehicles that combine exposure to the Solana blockchain with staking rewards. The fund, known as the REX Shares Solana Staking ETF (SSK), launched less than two months ago and has already attracted over $160 million in net inflows, reflecting growing institutional and retail interest in structured crypto products [2]. The ETF is distinct in that it generates staking rewards from holding Solana (SOL) and distributes them to investors, offering a dual benefit of capital appreciation and yield generation.

The structure of the REX Shares ETF is designed to provide long-term capital appreciation while generating consistent income through staking rewards. According to its filing, the fund does not directly hold Solana but instead invests in derivatives, including swap agreements and options, linked to US-listed Solana ETFs. This approach allows the fund to avoid direct custody of digital assets while still benefiting from the underlying price movements and staking yields [2]. The first staking-based dividend from the fund is scheduled to be paid out in early August, with an estimated payout exceeding $600,000 [1].

The emergence of staking-based ETFs has drawn regulatory scrutiny and evolving guidance from the U.S. Securities and Exchange Commission (SEC). Recent clarification from the SEC states that liquid staking tokens—such as those used to back staking rewards in these funds—are not classified as securities but rather as receipts for staked assets [1]. This guidance has been viewed as a positive development by industry participants, potentially paving the way for broader adoption of staking-based investment vehicles. However, some SEC officials have warned that the complexity of liquid staking introduces additional risks, potentially resembling the systemic issues seen during the 2008 financial crisis [1].

The timing of the REX Shares Solana Staking ETF’s launch is strategic, given the broader regulatory environment for crypto ETFs. The SEC is currently reviewing applications for a range of altcoin ETFs, including those for Ethereum and Bitcoin, and analysts anticipate a decision by October 2025 [2]. The recent performance of other crypto-linked ETFs supports the growing demand for structured exposure to digital assets. For instance, the Teucrium 2x Long Daily XRP ETF (XXRP) has surpassed $400 million in net assets, marking a first for a U.S.-listed XRP ETF [2]. These developments indicate a maturing market for crypto investment products and increased confidence from both investors and institutional players.

The broader staking landscape has also seen significant activity. BitMine Immersion, for example, has pledged to stake 5% of Ethereum’s supply as its holdings exceed $2 billion, demonstrating the increasing appeal of staking as a yield-generating strategy [1]. Additionally, Robinhood recently launched Ethereum and Solana staking services for U.S. users, further expanding access to staking rewards for retail investors [1]. These trends highlight a growing convergence between traditional finance and blockchain technology, with staking emerging as a key bridge between the two.

Source:

[1] News Staking (https://cryptoslate.com/staking/)

[2] New crypto ETFs offer leveraged bets on XRP and Solana (https://cryptoslate.com/tidal-trust-ii-files-with-sec-for-leveraged-xrp-and-solana-etfs/)