XRP News Today: REX-Osprey Solana Staking ETF SSK Debuts With $12M Inflows

The REX-Osprey Solana Staking ETF, trading under the ticker SSK, launched on the Cboe BZX Exchange. This ETF offers investors exposure to Solana (SOL) while providing staking yields, making it the first ETF in the U.S. to combine spot Solana exposure with staking rewards.

The ETF's debut trading session saw $12 million in inflows and $33 million in volume, marking a strong start for staking-focused crypto ETFs. The opening day trading volumes surpassed those seen by earlier Solana and XRP futures ETFs, although they fell short of the explosive debuts of spot Bitcoin and Ether ETFs.

The ETF’s launch was not without challenges. The Securities and Exchange Commission (SEC) initially raised objections in late May, questioning whether the product qualified as an “investment company” under federal securities laws. REX-Osprey navigated these challenges by structuring the fund to invest at least 40% of its assets in other exchange-traded products, many of which are listed outside the United States. This regulatory workaround allowed the fund to avoid the traditional 19b-4 filing process typically required for spot crypto ETFs.

Anchorage Digital co-founder Nathan McCauley called the launch a “defining moment” for digital assets, highlighting its role in expanding institutional access to crypto staking opportunities. The promising debut has fueled speculation about the potential approval of true spot Solana ETFs. Analysts recently estimated a 95% chance that the SEC will approve spot Solana ETFs before the year ends, with a wave of new ETFs, including products tied to XRP and Litecoin, potentially arriving in the second half of 2025.