XRP News Today: Solana Staking ETF SSK Debuts With $33 Million Trading Volume

The REX-Osprey Solana + Staking ETF (SSK), the first U.S.-listed crypto staking exchange-traded fund, made its debut on the Cboe BZX Exchange. The ETF, which began trading on July 2, 2025, recorded a substantial $33 million in trading volume on its first day. This launch marks a significant milestone for the crypto industry, as it provides investors with indirect access to Solana while earning staking rewards without the need for technical expertise.

The ETF's structure is designed to offer monthly cash payouts derived from staking yields, a feature that sets it apart from traditional ETFs. This innovative approach allows investors to participate in the Solana ecosystem and benefit from its staking rewards in a regulated and custodied environment. The launch of SSK has been met with strong investor interest, reflecting the growing demand for regulated crypto investment products.

According to analysts, the trading volume of SSK was much stronger than recent Solana and XRP futures ETF listings. This indicates that investors are increasingly interested in staking ETFs as a means of gaining exposure to the crypto market. The launch of SSK also comes at a time when the Securities and Exchange Commission has ruled that crypto staking does not violate securities laws, paving the way for issuers to offer such staking products.

The success of SSK's launch can be attributed to several factors. Firstly, the ETF offers a unique value proposition by providing staking rewards, which are not available in traditional ETFs. Secondly, the launch of SSK comes at a time when there is growing interest in the crypto market, with institutional investors increasingly looking for ways to gain exposure to digital assets. Lastly, the ETF's structure, which offers monthly cash payouts, makes it an attractive option for investors looking for a steady income stream.

The launch of SSK is a significant development for the crypto industry, as it provides investors with a new way to gain exposure to the Solana ecosystem. The ETF's success on its first day of trading is a testament to the growing demand for regulated crypto investment products and the potential for staking ETFs to become a popular investment option. As the crypto market continues to evolve, it is likely that we will see more innovative products like SSK being launched, providing investors with new opportunities to gain exposure to digital assets.

The ETF reached about $1 million in assets under management on its debut day. The ETF is registered under the Investment Company Act of 1940, an investor-focused framework with stricter regulations. This means the fund must hold its assets with a qualified and trusted custodian. The ETF’s founders selected Anchorage Digital for the role, as it is the sole federally regulated crypto bank authorized to handle both custody and staking of digital assets. The CEO of Anchorage, Nathan McCauley, described staking as the next evolution in the crypto ETF space and called the fund’s debut a significant step toward offering institutions secure and regulated crypto access.

Grayscale also earned approval to change its Digital Large-Cap Fund into an ETF. The fund includes the top five cryptocurrencies by market cap: Bitcoin, Ether, Solana, XRP, and Cardano’s ADA. The firm explained that moving forward, it wants the values of the shares to reflect the value of the digital assets held by the fund. However, the SEC is still reviewing the firm’s ETF conversion plans. On Wednesday, in a letter to the New York Stock Exchange, the agency’s deputy secretary announced that the commission would reexamine the approval for Grayscale’s ETF conversion, signaling continued hesitation to loosen its approach to crypto ETFs.