First US ETF Staking Solana Launches, Attracts $33 Million in First-Day Trading
The launch of the first US ETF with direct access to Solana (SOL) and staking rewards has made a strong impression on the market, marking an important step in the financialization of digital assets.
SSK ETF Officially Trades on Cboe, Records Over $12 Million in Inflows
On July 2, 2025, the REX-Osprey Solana + Staking ETF (ticker SSK) began trading on Cboe, becoming the first US ETF to provide direct access to Solana price with on-chain staking rewards.
According to Bloomberg ETF analyst Eric Balchunas, the fund ended its first day of trading with:
Trading volume: ~$33 million
Net inflows: ~$12 million
While not reaching the blockbuster trading volume of the Bitcoin and Ethereum spot ETFs launched earlier this year, SSK’s performance has outperformed previous Solana and XRP futures ETFs – a testament to the demand for next-generation crypto assets with a passive income component.
Fund structure: Investor protection and staking income optimization
SSK is structured under the Investment Company Act of 1940, providing investors with additional legal protections. Anchorage Digital, a federally chartered digital asset bank, serves as the official custodian and staking agent.
80% of the fund's assets are allocated to Solana, of which at least 50% are staked through institutional validators such as Galaxy and Figment.
The remainder is invested in liquid staked tokens such as JitoSOL, along with SOL derivatives from the Canadian and European markets.
By using the CME CF Solana-Dollar reference rate, SSK's spot price model tracks real prices much more closely than futures ETFs.
In particular, staking profits are distributed in cash on a monthly basis, increasing the appeal to investors looking for stable cash flows in the digital asset world.
Positive signals for the future of crypto ETFs in the US
Before launching, SSK had to pass many rounds of review from the US Securities and Exchange Commission (SEC), especially related to the staking mechanism and asset classification definition. However, after June 28, the SEC dropped its objections, implicitly paving the way for its official launch.
There are currently nine other Solana ETF applications pending, along with many other staking product proposals. The success of SSK could set an important precedent for the development of next-generation crypto ETFs, especially funds that incorporate staking – an attractive source of passive income for traditional investors.
