New Solana ETF with Staking Feature Attracts $12 Million Investment

Launch of the First Solana Staking ETF in the U.S.
The REX-Osprey Solana Staking ETF (SSK), the inaugural exchange-traded fund (ETF) focused on Solana with staking features, has officially debuted in the United States, as reported by Bloomberg ETF analyst Eric Balchunas.
On its opening day on the CBOE BZX exchange, SSK garnered $12 million in inflows, with total trading activity reaching $33 million. This fund provides investors with direct access to spot Solana and the opportunity to earn staking rewards.
Bloomberg ETF analyst James Seyffarth characterized the initial trading performance as “robust,” highlighting that $8 million in trading volume was achieved within just the first 20 minutes of operation. Balchunas also pointed out that SSK’s launch significantly outpaced the early trading figures of Solana and XRP futures ETFs, although it did not surpass the initial performance of spot bitcoin and ethereum ETFs.
Regulatory Insights
The fund is established under the Investment Company Act of 1940, which allows it to circumvent the usual Form 19b-4 filing process that is typically necessary for spot ETFs. Nate Geraci, President of NovaDius Wealth Management, referred to this strategy as a “regulatory workaround.”
Anchorage Digital has been appointed as both the staking and custody partner for the SSK fund.
Increasing Institutional Interest
The introduction of SSK comes at a time of heightened institutional interest in Solana. Open interest in Solana futures on the CME has reached an unprecedented $167 million, indicating a growing focus from institutional investors.
In parallel, spot bitcoin ETFs in the U.S. have seen a resurgence in positive capital inflows. Over a two-day period, more than $1 billion was invested in these funds, effectively countering a previous outflow of $342.2 million.
On July 2, net inflows amounted to $407.8 million, followed by an additional $601.8 million the next day. Fidelity’s FBTC fund led the charge, attracting $184 million and $237.1 million on those respective days. BlackRock’s IBIT fund also experienced significant interest, raising $224.5 million on July 3 after two days of no inflows.