Solana Staking ETF Hits $12M on First Day, Outperforms XRP and ETH Futures in Opening Performance
2025-07-04
In a landmark moment for crypto investing, the REX-Osprey Solana Staking ETF (SSK) made a powerful debut on the Cboe BZX Exchange, drawing $12 million in inflows and generating $33 million in trading volume on its first day. This impressive performance outshines the initial trading of XRP and Ethereum futures ETFs, signaling growing institutional interest in Solana and staking-enabled crypto products.
The launch not only marks the first Solana staking ETF in the United States, but also signals a shift toward alternative crypto investment vehicles beyond Bitcoin and Ethereum.
Strong Debut: Solana ETF Shows Market Appetite
Source: Eric Balchunas
According to Bloomberg ETF analyst Eric Balchunas, the SSK fund ranked in the top 1% of all ETF launches in terms of volume. Within the first 20 minutes of trading, the ETF had already surpassed $8 million in volume, ultimately closing the day at $33 million—a clear sign of solid investor appetite.
Compared to previous launches:
SSK outperformed XRP and ETH futures ETFs
But still trailed far behind the massive $4.6 billion debut of spot Bitcoin ETFs in January 2024
ETF analyst James Seyffart commented that although this launch may not predict long-term trends, it clearly indicates growing demand for staking-enabled products—especially during a shortened U.S. trading week.
Why the SSK ETF Matters
The REX-Osprey Solana ETF stands out for several reasons:
Staking-Enabled: Investors gain not only price exposure to Solana (SOL) but also staking yields, a rare feature among U.S.-based crypto ETFs.
Regulatory Workaround: The ETF is structured under the Investment Company Act of 1940, investing over 40% in foreign ETPs to meet diversification rules. This approach avoids the standard SEC 19b-4 filing process.
First of Its Kind: It's the first U.S. ETF to offer staking rewards tied directly to a major crypto asset.
Anchorage Digital, the ETF’s custodian and staking provider, described the launch as “a defining moment for digital assets.”
Futures Market Confirms Institutional Interest
Beyond ETFs, Solana’s CME futures contracts also surged in demand, with open interest hitting a record $167 million, according to Coinglass. This is a strong indicator of institutional appetite, especially given the futures are cash-settled, offering exposure without directly holding SOL.
The CME currently offers:
Standard contracts (500 SOL)
Micro contracts (25 SOL)
This regulated access point provides institutions a more risk-managed way to engage with Solana, complementing the ETF’s retail and fund-friendly appeal.
READ ALSO: SEC Approves First Solana Staking ETF: A Major Milestone for Crypto Investment
Price Reaction: Modest But Steady
Despite the excitement, Solana’s price reaction was moderate, rising about 3.6% over 24 hours, trading around $153–$155 at press time. While not as explosive as some expected, the steady climb reflects measured optimism from investors, with much of the real momentum likely coming as more ETF products go live later in 2025.
Analysts expect spot Solana ETFs to be approved before year’s end, with Bloomberg assigning a 95% probability of regulatory greenlight for SOL, XRP, and LTC ETFs in H2 2025.
Conclusion
The launch of the Solana Staking ETF (SSK) represents a major leap forward for both Solana’s institutional adoption and the broader crypto ETF landscape. Outperforming XRP and ETH futures on day one, and paired with surging futures demand, this signals that Solana is no longer just an "altcoin"—it's becoming a mainstay in the portfolios of serious investors.
With spot ETF approvals looming, and staking yields sweetening the deal, Solana could be on the cusp of a breakout moment in the world of TradFi and DeFi alike.
READ ALSO: SEC Approves First Solana Staking ETF: A Major Milestone for Crypto Investment
FAQs
1. What is the Solana Staking ETF (SSK)?
SSK is the first U.S. ETF offering exposure to Solana (SOL) along with staking yields, allowing investors to earn passive income.
2. How much did the ETF raise on its first day?
The SSK ETF saw $12 million in inflows and $33 million in trading volume on its opening day.
3. Is the ETF regulated by the SEC?
The ETF uses a workaround under the Investment Company Act of 1940, bypassing traditional SEC filing paths like 19b-4.
4. How does SSK compare to Bitcoin ETFs?
While it trails Bitcoin ETF launch volumes, it outperformed XRP and ETH futures ETFs, showing strong market interest.
5. Will a spot Solana ETF be approved soon?
Analysts project a 95% chance of spot Solana ETF approval by end of 2025, alongside similar products for XRP and Litecoin.
Disclaimer: The content of this article does not constitute financial or investment advice.
