XRP News Today: Solana Staking ETF SSK Debuts with $12 Million Inflows on Cboe BZX Exchange

The REX-Osprey Solana Staking ETF, trading under the ticker SSK, made its debut on the Cboe BZX Exchange on Wednesday. The fund, which offers investors exposure to Solana (SOL) while providing staking yields, wrapped up its first trading session with $12 million in inflows. This strong start positions the ETF as a significant milestone in the crypto investment landscape, particularly for staking-focused funds.

The ETF's launch was notable for its innovative fund structure, which allowed it to navigate regulatory hurdles set by the Securities and Exchange Commission (SEC). By investing at least 40% of its assets in other exchange-traded products, many of which are listed outside the United States, the fund avoided the traditional 19b-4 filing process typically required for spot crypto ETFs. This regulatory workaround was seen as a creative solution to the challenges posed by the SEC, which had initially raised objections to the product's classification under federal securities laws.

The ETF's debut was met with positive reactions from industry experts. Anchorage Digital co-founder Nathan McCauley described the launch as a "defining moment" for digital assets, highlighting its role in expanding institutional access to crypto staking opportunities. The ETF's 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, which recorded $4.6 billion in shares traded on their first day in January 2024.

The promising debut of the REX-Osprey Solana Staking ETF has sparked speculation about the potential approval of true spot Solana ETFs. Analysts have 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, expected in the second half of 2025. This optimism is fueled by the ETF's successful launch and its ability to overcome regulatory challenges, positioning it as a potential catalyst for further innovation in the crypto ETF space.

Solana is currently trading at $155.57 with an intraday increase of 3.97%, and has added 6.82% to its price in a week. The market capitalization is $83.19 billion, with a surge of 3.97%. In the past 30 days, Solana traded highest at $168.02 and its lowest traded price was $126.83. In the YTD frame, Solana has experienced notable volatility reflecting broader market sentiment. Starting from January, SOL surged above $200 before entering a prolonged downtrend, bottoming out around mid-April. Since then, it has shown signs of recovery, gradually climbing back and now trading near $155. Recent momentum suggests growing investor interest, especially following the launch of SSK in the US.

Technical indicators suggest Solana hovering close to the key moving average, with the 200-day EMI acting as resistance near $159. A breakout above this level may confirm Bull is a continuation, especially if supported by volume.