Solana-ETF with staking feature debuted attracting $12 million

The first ETF based on Solana with a staking feature was launched in the USA — REX-Osprey Solana Staking ETF (SSK). This was reported by Bloomberg exchange analyst Eric Balchunas.

$SSK ended day with $33m in volume. Again, blows away the Solana futures ETF and XRP futures ETFs (or the avg ETF launch) but it is much lower than the Bitcoin and Ether spot ETFs. pic.twitter.com/t6LkQwDXLc

— Eric Balchunas (@EricBalchunas) July 2, 2025

On the first day of trading on CBOE BZX, the inflow of funds into the product amounted to $12 million with a volume of $33 million.

SSK provides investors with direct access to spot Solana and staking yields.

Bloomberg exchange analyst James Seyffart called the start of trading "healthy," noting a volume of $8 million in the first 20 minutes.

First spot solana staking ETF is officially live. Healthy start to trading for a new ETF with ~$8 million in trading in first 20 min. pic.twitter.com/HBl7zzVv1F

— James Seyffart (@JSeyff) July 2, 2025

Balchunas added that the SSK metrics significantly outperformed the launch of futures ETFs on Solana and XRP, but fell short of spot funds based on Bitcoin and Ethereum.

Regulatory Features

The fund is structured in accordance with the Investment Company Act of 1940. This allowed bypassing the standard application process under form 19b-4, which is required for spot ETFs. President of NovaDius Wealth Management Nate Geraci referred to such a structure as a "regulatory workaround."

The partner for staking and asset custody for SSK is Anchorage Digital.

Institutional Interest

Against the backdrop of the ETF launch, open interest in Solana futures on the CME exchange reached a record $167 million, indicating increased interest from institutional investors.

🚨JUST IN: Solana CME futures see record demand as open interest hits $167M. The surge follows the launch of the first-ever Solana staking ETF in the U.S., signaling rising institutional interest. pic.twitter.com/249YSMRmHz

— SolanaFloor (@SolanaFloor) July 2, 2025

Spot Bitcoin ETFs in the US have returned to capital inflows. Over two days, investors poured more than $1 billion into them, offsetting an outflow of $342.2 million.

On July 2, the net inflow amounted to $407.8 million, and the following day it was $601.8 million. The leader was the FBTC fund from Fidelity with figures of $184 million and $237.1 million respectively. The IBIT fund from BlackRock attracted $224.5 million on July 3 after two days of zero flows.

Recall that in June, Balchunas predicted a "summer of altcoin ETFs." According to him, as early as July, the U.S. Securities and Exchange Commission may approve instruments based on a basket of cryptocurrencies, and then make a decision on funds based on Solana.