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Finbold 2025-07-03 14:06:38

Solana ETF pulls in a record $12 million on debut day

The first U.S. crypto staking exchange-traded fund ( ETF ) delivered an impressive debut performance , with Bloomberg ETF analyst Eric Balchunas reporting that the REX-Osprey + Staking ETF (SSK) pulled in $12 million in inflows and $33 million in trading volume on its opening day. The Solana ETF $SSK took in $12m on first day, according to Osprey who told Decrypt (we won't see it in data till tonight). That's pretty solid. For context, it took 3mo for $SOLZ to get $12m. Also pre-market volume is $3m (vs 260k for SOLZ), pointing another healthy trading day. https://t.co/ORottKyGXg — Eric Balchunas (@EricBalchunas) July 3, 2025 The fund began trading on Wednesday on the Cboe BZX Exchange at $25.47 per share. The debut performance “blows away” Solana and XRP futures ETFs, according to Balchunas, adding for context, “it took 3mo for $SOLZ to get $12m”. How a crypto staking ETF works Unlike traditional crypto ETFs, SSK enables investors to participate in Solana’s staking mechanism, a process that is typically restricted through traditional brokerage accoutns. The fund deploys approximately 80% of its assets into direct Solana holdings, with more than half of those tokens actively staked to earn blockchain rewards. This staking component is projected to deliver annual yields ranging from 7% to 7.3% for investors. The ETF’s remaining assets consist of international Solana-related products and liquid staking tokens like JitoSOL. SSK’s approval hinged on its legal framework. REX and Osprey structured it as a C-corporation under the Investment Company Act of 1940, helping them circumvent regulatory obstacles that have stalled other cryptocurrency ETFs. This approach requires a qualified custodian rather than the fund issuer to hold underlying assets, with Anchorage Digital serving as both custodian and staking provider. The ETF’s success could signal institutional demand for spot Solana ETFs. The SEC recently requested public input on spot Solana ETF proposals from Franklin Templeton and WisdomTree, with analysts assigning a 95% chance of approval by the end of 2025. Featured image via Shutterstock. The post Solana ETF pulls in a record $12 million on debut day appeared first on Finbold .

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