US Debuts First Solana Staking ETF with $12M Inflows and $33M Trading Volume

The inaugural Solana staking exchange-traded fund (ETF) in the United States completed its first trading day with $12 million in net inflows and $33 million in total volume, signaling robust demand for crypto staking products. Developed by REX-Osprey and trading under ticker SSK on Cboe BZX Exchange, the innovative fund combines direct Solana (SOL) exposure with staking rewards – a first for U.S. regulated markets.

Market analysts note the ETF's debut outperformed previous Solana and XRP futures ETF launches, though volumes remained below January's record-breaking Bitcoin and Ether spot ETF openings. Bloomberg's Eric Balchunas reported $8 million traded within the first 20 minutes, calling it "a healthy start" for the niche product.

The launch followed regulatory ingenuity after SEC scrutiny in May. By allocating ≥40% assets to international exchange-traded products, REX-Osprey circumvented traditional spot ETF approval processes. Wealth management executive Nate Geraci described the structure as "regulatory end-around," prompting debate about its classification.

The successful debut has renewed optimism for pure spot Solana ETF approvals, with prominent analysts now estimating 95% likelihood before year-end. Meanwhile, SOL price showed modest 3.6% gains despite the news, while institutional interest grew as Solana CME futures open interest reached $167 million post-launch.

The launch coincides with broader crypto investment momentum, with digital asset funds attracting $2.7 billion last week – extending an 11-week $16.9 billion inflow streak dominated by U.S. investors (83% allocated to Bitcoin products).