Solana’s Staking ETF: A $33M Debut – Is the Spot Market Ready for More?

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  • Solana’s new staking ETF, REX-Osprey Solana + Staking (SSK), debuts with a $33 million trading volume.
  • Can Solana’s staking-based market structure scale to the levels of Bitcoin and Ethereum spot ETFs?

Solana [SOL] has opened the second half of 2025 with a bang, thanks not to a spot ETF, but to something arguably more attractive: Yield. 💰

The newly launched REX-Osprey Solana + Staking ETF (SSK) drew in an impressive $33 million in first-day trading volume, with its stock closing at $25.85, up 1.5% from its opening. 🚀

Under the hood, SSK directly holds approximately 234,743 SOL tokens, accounting for 55.02% of its portfolio. The fund actively stakes these tokens within Solana’s ecosystem to generate a 7.3% annual yield for shareholders. 💸

What’s more impressive? SSK’s first-day trading volume beat the launch-day volumes of both SOL and Ripple [XRP] futures ETFs. And it’s easy to see why. 😉

Unlike traditional spot products, SSK turns investor inflows into staked SOL, generating real yield rather than just price exposure. The more capital it pulls in, the more it stakes, and the more it pays out. 🤑

According to AMBCrypto, that creates a powerful cycle: Inflows drive yield, yield draws more investors, and those investors deepen the staking pool, setting SSK apart as more than just a directional bet. 🌀

And yet, SSK’s $33 million debut pales in comparison to the billions logged by Bitcoin [BTC] and Ethereum [ETH] spot ETFs. That gap begs a deeper question: Can Solana’s staking-based market structure scale to that level? 🤔

Solana attracts yield seekers and speculators alike

As AMBCrypto points out, staking is a conviction trade. Unlike short-term speculative capital, staking involves locking assets with the belief that the network will grow over time. 🌱

That’s what makes SSK interesting. It stakes SOL, turning passive exposure into an active, yield-generating engine. 💡 But the catch is, those yields are paid in SOL. So if Solana’s price stagnates or drops, the real value of those returns shrinks. 📉

And that risk isn’t hypothetical. SOL remains nearly 50% below its $294 all-time high, and even after SSK’s launch, the token saw only a 3.67% price lift. 😕

This muted response points to underwhelming spot market strength, raising questions about whether current staking yields can offset valuation drag. 📉 If the yield fails to deliver real, inflation-adjusted returns, then SSK’s $33 million debut may signal speculative rotation rather than true capital commitment, generating volume, but not necessarily price momentum for Solana itself. 😒

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2025-07-03 23:06