Solana Staking ETF SSK Debuts With $33 Million Volume

The REX-Osprey Solana + Staking ETF (SSK) has made its debut on the Cboe exchange, marking a significant milestone in the cryptocurrency investment landscape. This ETF offers direct exposure to Solana and its staking rewards, providing investors with a unique opportunity to participate in the growing Solana ecosystem.

SSK’s launch was met with notable trading volume and inflows, indicating a strong appetite among investors for staking-based cryptocurrency investment vehicles. The ETF’s innovative structure combines direct staking rewards with asset price exposure, setting a new standard for crypto ETFs. Registered under the Investment Company Act of 1940, SSK complies with stringent regulatory standards, ensuring investor protection and secure asset custody. Anchorage Digital, a federally chartered crypto bank, manages the fund’s assets, acting as both custodian and staking provider.

Approximately 80% of SSK’s portfolio is allocated to Solana (SOL), with over half of these holdings actively staked through reputable institutional validators. This staking approach generates yield that is passed directly to investors via monthly cash distributions, distinguishing SSK from traditional ETFs that do not offer staking rewards. The remaining portfolio includes liquid staking tokens and other Solana-related exchange-traded products, providing diversified exposure within the Solana ecosystem.

Unlike many cryptocurrency ETFs that rely on futures contracts, SSK employs the CME CF Solana-Dollar Reference Rate to track Solana’s spot price. This methodology reduces tracking error and volatility often associated with futures-based products, offering investors a more precise reflection of Solana’s market value. The spot-based pricing model aligns with investor demand for transparent and reliable pricing mechanisms in crypto asset funds.

The ETF’s launch followed an extensive review process by the U.S. Securities and Exchange Commission (SEC), which initially expressed concerns regarding the fund’s staking methodology and structure. The SEC’s eventual clearance without additional comments signaled regulatory acceptance, potentially paving the way for similar staking-based ETFs. Currently, nine other Solana ETF applications remain under SEC consideration, underscoring the growing interest in staking-enabled crypto investment products.

SSK’s first trading day concluded with an estimated $33 million in volume and $12 million in net inflows, reflecting strong investor interest in innovative crypto ETFs that combine asset appreciation with yield generation. The fund’s ability to distribute staking rewards monthly enhances its appeal by providing a steady income stream alongside potential capital gains. This feature may influence future ETF designs, encouraging asset managers to incorporate staking mechanisms that benefit investors directly.

As regulatory clarity improves, staking-based ETFs like SSK could become a standard offering within the U.S. crypto investment landscape. The REX-Osprey Solana + Staking ETF marks a milestone in the evolution of cryptocurrency investment products by successfully merging direct staking rewards with spot price exposure under a regulated framework. Its strong market debut and innovative structure set a precedent for future staking-based ETFs, potentially reshaping investor access to yield-generating crypto assets. As the SEC continues to review additional applications, SSK’s performance and regulatory acceptance will likely serve as a benchmark for the next generation of crypto ETFs.