Solana Staking ETF SSK Debuts on Cboe with 80% SOL Allocation

The REX-Osprey Solana + Staking ETF (SSK) made its debut on July 2, 2025, marking a significant milestone as the first U.S.-listed Solana staking ETF. This innovative fund offers direct exposure to Solana (SOL) along with on-chain staking rewards, attracting substantial initial interest from both institutional and retail investors. The ETF began trading on the Cboe exchange, showcasing a strong start with notable trading volume and net inflows.

SSK is structured under the Investment Company Act of 1940, providing robust investor protections that are not commonly found in other crypto-backed ETFs. Anchorage Digital, the federally chartered crypto bank, serves as the ETF's staking partner and custodian, enhancing regulatory compliance and transparency. The ETF aims to allocate approximately 80 percent of its funds to SOL, with at least half of its assets actively staked through reputable validators such as Galaxy and Figment. This staking activity generates monthly cash returns, which are distributed directly to shareholders, making SSK an attractive option for investors seeking passive income from cryptocurrency exposure.

The ETF also includes liquid staking tokens like JitoSOL and other exchange-traded products listed on overseas markets. One of the key advantages of SSK is its use of spot pricing linked to the CME CF Solana-Dollar Reference Rate, providing a more accurate reflection of market conditions compared to derivatives-based funds. The launch of SSK follows a complex regulatory path, with initial concerns from the U.S. Securities and Exchange Commission (SEC) about the fund's classification and staking mechanisms. However, the SEC ultimately raised no additional objections, paving the way for the ETF's approval on June 28.

The green light from the SEC for SSK could signal a shift towards increased transparency and regulation in staking-based crypto products. With nine other Solana-related ETF applications currently under review, SSK may serve as a model for future Solana-staking products and other crypto ETFs that generate yield through on-chain transactions. The launch of SSK represents a significant milestone for the digital asset ETF sector in the United States. Unlike existing crypto ETFs that rely on unregulated futures or spot exposure without yield, SSK introduces staking reward yield to the regulated ETF world, potentially transforming the design and sale of digital asset funds.

Industry experts are closely monitoring the hybrid deposit exposure plus staking profits model of SSK, as it could set a new standard for crypto ETFs. As investor interest in yield-bearing crypto products grows and regulatory understanding improves, the launch of SSK may herald a new era of crypto finance in the USA. The ETF's integration of Solana exposure and staking rewards brings a novel model to the U.S.-regulated crypto investment landscape. With increasing regulatory clarity and investor interest, SSK has the potential to shape the future of yield-generating cryptocurrency ETFs in traditional financial settings.