Solana Staking ETF Debuts with Strong $33M Volume, Outperforming XRP Futures ETF

Solana has made a groundbreaking entry into the U.S. ETF market with the launch of its first staking ETF. The product, trading under ticker SSK and issued by REX Shares, recorded an impressive $33 million in trading volume on its first day, including $12 million in inflows - significantly surpassing the performance of earlier XRP and Solana futures ETFs.

Bloomberg ETF analyst Eric Balchunas noted on X (formerly Twitter): "$SSK closed with $33M volume - dramatically outpacing Solana futures ETFs, XRP futures ETFs, and the average ETF debut, though still below Bitcoin and Ether spot ETF levels."

The fund's unique structure as a C-corporation enabled it to bypass traditional SEC approval processes while offering staking rewards - a first for U.S. ETFs. Anchorage Digital provides custody services for the fund, which gives investors indirect SOL exposure plus staking yield benefits.

This successful launch has renewed focus on pending spot Solana ETF applications from major firms like Franklin Templeton and Bitwise. Balchunas estimates a 95% approval probability for such products later this year, positioning Solana ahead of XRP in the ETF adoption race.

Market Impact:
Following the ETF launch, SOL price surged 4%, trading around $154 at press time with bullish technical indicators suggesting potential movement toward $160 resistance and possibly $184. The strong debut demonstrates growing institutional interest in Solana through regulated financial products, marking a significant milestone in its mainstream adoption.