The first Solana staking ETF in the U.S., the REX-Osprey SOL + Staking ETF (ticker: SSK), is set to launch on Wednesday, July 2, 2025. This ETF, a collaboration between REX Shares and Osprey Funds, will track Solana’s market price while generating passive income through on-chain staking rewards. It’s structured under the Investment Company Act of 1940 as a C-corporation, allowing it to bypass some regulatory delays and offer investors direct exposure to Solana (SOL) with a 0.75% fee.
At least 50% of its holdings will be staked, with 40% of assets invested in other Solana-related ETFs or ETPs, mostly outside the U.S. The launch has driven significant market interest, with Solana’s price rising 4-7% in the past week, peaking at $161 before settling around $153.70 as of July 1. Trading volumes surged by over 70% to $4.79 billion.
Analysts, including Bloomberg’s James Cleveland Brown, suggest this could spark a bullish trend for SOL, potentially pushing it toward $180-$200, though concerns linger about long-term adoption and an upcoming $585 million staking unlock that may pressure prices. The ETF’s debut is seen as a milestone for crypto adoption, potentially paving the way for more altcoin-based ETFs.
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The launch of the REX-Osprey SOL + Staking ETF (SSK) on July 2, 2025, carries significant implications for the cryptocurrency market, institutional adoption, and Solana’s ecosystem. The ETF provides a regulated vehicle for institutional investors to gain exposure to Solana without directly holding or staking SOL, lowering entry barriers. This could drive significant capital inflows, as seen with Bitcoin and Ethereum ETFs, which attracted billions in assets.
The structure under the Investment Company Act of 1940 ensures compliance with U.S. securities laws, making it more appealing to traditional financial institutions wary of crypto’s regulatory ambiguity. The 4-7% price surge in SOL leading up to the launch reflects heightened market enthusiasm. Analysts predict a potential rally toward $180-$200, driven by increased demand and visibility. However, the upcoming $585 million staking unlock could introduce short-term price volatility, as unstaked tokens may flood the market, potentially offsetting ETF-driven gains.
The ETF’s staking mechanism (at least 50% of holdings staked) could reduce circulating supply over time, supporting price stability if demand remains strong. A successful Solana ETF could set a precedent for other altcoin-based ETFs (e.g., Cardano, Polkadot), diversifying crypto investment options beyond Bitcoin and Ethereum. It may pressure regulators to clarify staking-related policies, as staking rewards are treated as income in some jurisdictions, complicating tax reporting for investors.
The ETF’s staking rewards will directly support Solana’s validator network, potentially improving network security and decentralization. Increased visibility could accelerate developer activity and dApp adoption on Solana, known for its high throughput and low transaction costs. The ETF democratizes access to Solana’s staking rewards, previously limited to tech-savvy users or those with significant capital to run validators.
Regulatory compliance enhances Solana’s credibility, attracting conservative investors and potentially stabilizing its market position. Increased staking through the ETF strengthens Solana’s proof-of-stake mechanism, potentially improving performance and attracting more DeFi and NFT projects. The $585 million staking unlock could lead to sell-offs, undermining the ETF’s price-supporting effect. Historical data shows large unlocks often trigger 10-20% price drops in altcoins.
While the ETF is structured to comply with current laws, evolving SEC policies on crypto staking could impose restrictions or additional compliance costs. With 40% of the ETF’s assets invested in other Solana-related ETFs/ETPs (mostly non-U.S.), there’s a risk of overexposure to correlated assets, amplifying losses if Solana’s price declines. Some analysts question Solana’s long-term scalability and adoption compared to Ethereum, citing past network outages and competition from layer-1 rivals.
Sustained investor interest post-launch could outweigh unlock-related selling pressure. Clear SEC guidance on staking could boost confidence in Solana and similar products. Continued network reliability and ecosystem growth (e.g., DeFi TVL, NFT volume) will be critical to maintaining investor trust.
The Solana staking ETF is a landmark for crypto’s integration into traditional finance, with potential to drive SOL’s price and adoption. However, risks like staking unlocks, regulatory hurdles, and market competition create a divide that investors must navigate cautiously. Monitoring SOL’s price action post-launch and upcoming network developments will be key to assessing its long-term impact.