First US Solana Staking ETF Launches With $12M Inflows
The post First US Solana Staking ETF Launches With $12M Inflows appeared on BitcoinEthereumNews.com. The United States’ first Solana staking exchange-traded fund (ETF) ended its debut trading day with $12 million in inflows — a positive sign for crypto staking-enabled ETFs. The REX-Osprey Solana Staking ETF debuted on the Cboe BZX Exchange on Wednesday, recording $33 million in trading volume and $12 million in inflows, according to Bloomberg ETF analyst Eric Balchunas. The fund, trading under SSK, gives investors direct exposure to spot Solana (SOL) along with staking yields, making it the first crypto staking ETF to be approved in America. It was a “healthy start to trading,” said Bloomberg ETF analyst James Seyffart, who observed that it had seen $8 million in trading volume in the first 20 minutes. Balchunas also commented on the impressive first-day volumes, stating that it “blows away” the Solana futures ETF and XRP futures ETFs but was much lower than the spot Bitcoin (BTC) and Ether (ETH) funds when they launched. US-listed spot Bitcoin ETFs recorded a combined $4.6 billion worth of shares traded on their first day in January 2024. “The launch of crypto staking ETFs is a defining moment for digital assets and a significant step forward in full access to the crypto ecosystem,” said Anchorage Digital co-founder Nathan McCauley, whose firm is the staking and custodian partner for the REX-Osprey ETF. SSK first day volume. Source: Eric Balchunas Fund faced regulatory hurdles The REX-Osprey fund faced regulatory hurdles with the Securities and Exchange Commission, which objected to it in late May after clearing an initial registration. The issue was whether the product qualified as an “investment company” under securities laws, but the firm managed to get around this by investing at least 40% of its assets in other ETPs, mostly domiciled outside the US. More eyes on spot Solana ETF, altcoin ETF summer Unlike spot Solana…
The post First US Solana Staking ETF Launches With $12M Inflows appeared on BitcoinEthereumNews.com.
The United States’ first Solana staking exchange-traded fund (ETF) ended its debut trading day with $12 million in inflows — a positive sign for crypto staking-enabled ETFs. The REX-Osprey Solana Staking ETF debuted on the Cboe BZX Exchange on Wednesday, recording $33 million in trading volume and $12 million in inflows, according to Bloomberg ETF analyst Eric Balchunas. The fund, trading under SSK, gives investors direct exposure to spot Solana (SOL) along with staking yields, making it the first crypto staking ETF to be approved in America. It was a “healthy start to trading,” said Bloomberg ETF analyst James Seyffart, who observed that it had seen $8 million in trading volume in the first 20 minutes. Balchunas also commented on the impressive first-day volumes, stating that it “blows away” the Solana futures ETF and XRP futures ETFs but was much lower than the spot Bitcoin (BTC) and Ether (ETH) funds when they launched. US-listed spot Bitcoin ETFs recorded a combined $4.6 billion worth of shares traded on their first day in January 2024. “The launch of crypto staking ETFs is a defining moment for digital assets and a significant step forward in full access to the crypto ecosystem,” said Anchorage Digital co-founder Nathan McCauley, whose firm is the staking and custodian partner for the REX-Osprey ETF. SSK first day volume. Source: Eric Balchunas Fund faced regulatory hurdles The REX-Osprey fund faced regulatory hurdles with the Securities and Exchange Commission, which objected to it in late May after clearing an initial registration. The issue was whether the product qualified as an “investment company” under securities laws, but the firm managed to get around this by investing at least 40% of its assets in other ETPs, mostly domiciled outside the US. More eyes on spot Solana ETF, altcoin ETF summer Unlike spot Solana…
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