SOL Rises 4% Following Successful Launch of Staking ETF
The REX-Osprey Solana + Staking ETF (SSK) has recorded impressive figures on its first trading day. This ETF, aimed at providing investors with exposure to Solana while earning staking rewards, saw an initial trading volume of $33 million. This performance surpasses the launch figures of both recent Solana and XRP futures ETFs.
SOL, in response, has increased by 4%, trading above $150.
Key Details
- The SEC ruling clarified that crypto staking falls within legal allowances, paving the way for this kind of ETF.
- Currently, there are no ETH staking ETFs in the U.S., even though similar offerings exist in Canada and Hong Kong.
To learn more about U.S. market movements and how this ETF fits into broader trends, visit CoinDesk’s Crypto Daybook Americas.
REX-Osprey Solana + Staking ETF
The ETF not only offers indirect access to Solana but also makes staking rewards accessible without needing extensive technical knowledge.
Tweet: $SSK ended the day with $33m in volume, outperforming the Solana and XRP futures ETFs. — Eric Balchunas (@EricBalchunas)
This ETF signifies a crucial step for institutional crypto adoption, emphasizing the ongoing transformations in how cryptocurrency products are marketed and perceived.
