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

The REX-Osprey Solana Staking ETF (SSK) has made history as the first U.S.-approved staking-enabled ETF, marking a significant milestone in the digital asset investment landscape. On its debut day, the ETF attracted $12 million in inflows and closed with an impressive $33 million in total volume, signaling strong institutional interest in Solana and the potential of staking rewards.

Unlike traditional crypto ETFs that focus solely on spot price exposure, the REX-Osprey Solana Staking ETF offers investors access to staking yields, a feature that is seen as a game-changer for digital asset investing. This innovative structure allows investors to earn passive income on top of holding the coin, making it an attractive option for those looking to maximize their returns.

The path to the ETF's launch was not without challenges. The Securities and Exchange Commission (SEC) raised concerns in May, questioning whether the fund met the standards of an “investment company” under federal law. However, REX-Osprey found a creative solution by allocating at least 40% of its assets into other exchange-traded products, many of which are listed offshore. This regulatory workaround allowed the ETF to avoid the lengthy 19b-4 filing process that has delayed other spot crypto ETFs for years. While some view this as a smart legal move, others see it as a potential loophole that could invite tighter oversight in the future.

Despite the July 4 holiday lull, industry watchers described the ETF's first-day performance as a “healthy start.” The ETF hit $8 million in trading volume in just 20 minutes, outperforming early futures-based Solana or XRP ETFs. Anchorage Digital, the staking partner for SSK, described the launch as a “defining moment for digital asset markets,” highlighting the growing institutional interest in staking-enabled ETFs.

The successful launch of the Solana Staking ETF has fueled optimism that more altcoin ETFs could follow. Analysts now see a 95% chance that spot Solana, XRP, and Litecoin ETFs will receive approval from the SEC by the end of the year. With Grayscale’s Digital Large-Cap Fund ETF conversion already completed, a second wave of crypto ETF approvals looks more likely than ever, potentially opening the door to a broader range of altcoin investment vehicles.

While the spot price of SOL remained relatively subdued, edging up only 3.6% in the past day, institutional traders took notice. The real momentum appears to be building beneath the surface, as evidenced by the record open interest in Solana CME futures, which hit $167 million. This indicates that big money is eager to earn passive yield on top of holding the coin itself, even as SOL trades nearly 48% below its January peak.

All eyes are now on whether the SSK’s launch will inspire other issuers to follow suit and whether this regulatory workaround becomes a roadmap for the next wave of staking ETFs. The success of the Solana Staking ETF has highlighted the potential for staking-enabled ETFs to attract institutional capital and expand access to digital asset investment opportunities. As the market continues to evolve, the launch of the REX-Osprey Solana Staking ETF serves as a testament to the growing interest in altcoins and the innovative structures that are emerging to meet the demands of institutional investors.