TL;DR
- Solana’s first staking ETF, SSK, debuted with $12 million in net inflows and $33 million in trading volume, outpacing prior futures ETF launches.
- Its C-corporation structure allocates at least 40% to other listed ETFs, delivering around 7% APY from on-chain staking while sidestepping direct SEC spot-ETF filings.
- SOL spiked 4% to about $154 on SSK’s launch, and this momentum, alongside a 95% odds of spot Solana ETF approvals, points to key resistance at $160 and support near $145–$150.
Solana’s debut staking ETF opened to a wave of investor interest, recording impressive inflows and trading volumes on Day 1. The REX-Osprey Solana Staking ETF (ticker SSK) wrapped up its first session with $12 million in net new assets and $33 million in shares traded. Its early success has reignited conversations about when pure spot Solana ETFs may finally secure regulatory approval.
Volume in $SSK now at $20m, which is really strong, top 1% for a new launch. For context, $SOLZ did $1m on Day One, and that's pretty good. Also, the $25m in seed assets makes $SSK already bigger than $SOLZ. https://t.co/ibiKxizeeQ
— Eric Balchunas (@EricBalchunas) July 2, 2025
Debut Trading Session Shows Strong Demand
SSK launched on the Cboe BZX Exchange under a pioneering structure that blends token exposure with on-chain yield. Bloomberg analysts noted that its opening volume easily eclipsed earlier Solana and XRP futures ETF debuts, signaling robust appetite among traders.
Within the first 20 minutes, SSK moved $8 million in shares, underscoring the eagerness of market participants to tap into Solana’s ecosystem without directly handling private keys.
Unique C-Corp Structure Bypasses SEC Hurdles
To sidestep the lengthy spot-ETF approval process, REX Shares and Osprey Funds set up the vehicle as a C-corporation, placing at least 40% of its assets in other listed ETFs. This design allowed SSK to offer staking rewards, currently around 7% APY, without triggering additional SEC filings. Anchorage Digital serves as custodian and staking operator, ensuring both asset security and the regular distribution of rewards to ETF shareholders.
Price Reaction and Technical Outlook
The ETF’s strong launch coincided with a 4% bump in SOL price as traders eyed a breakout above $150. At press time, SOL traded near $154, with technical indicators flashing growing bullish momentum. Resistance sits around $160, where profit-taking could slow gains. Should buyers push past that level, analysts see the next target near $184. Conversely, support in the $145–$150 zone may absorb any short-term retracements.
Eyes on Pure Spot Solana ETFs
SSK’s early traction has intensified speculation around upcoming spot Solana ETFs from industry heavyweights like Franklin Templeton, Bitwise, and VanEck. ETF experts assign as high as a 95% probability for regulatory greenlights before year-end, buoyed by this staking ETF’s smooth debut. If approved, a pure spot Solana ETF could draw billions into SOL, mirroring the seismic impact of Bitcoin and Ethereum spot ETFs earlier this cycle.
