The REX-Osprey Solana Staking ETF (SSK), launched on July 2, has exceeded $100 million in assets under management (AUM) within just 12 trading days. This marks the first U.S.-listed ETF to combine spot Solana (SOL) exposure with on-chain staking rewards. Registered under the Investment Company Act of 1940, SSK uniquely distributes staking income as dividends, appealing to yield-seeking investors beyond price speculation.
REX-Osprey CEO Greg King attributed the rapid growth to institutional demand for blockchain-native investment products, stating SSK "opens the door for mainstream investors to access Solana staking through a familiar ETF wrapper." The fund eliminates technical barriers like self-custody, attracting registered investment advisers (RIAs) seeking monthly yield. Bloomberg analyst Eric Balchunas noted SSK achieved $12 million in first-day trading volume, signaling robust market interest.
SOL surged 25.3% over the past week, trading above $200 for the first time since January 2025, with its market cap reaching $107 billion. On-chain activity strengthened, including Solana DeFi TVL surpassing $10 billion and 350,000+ new tokens deployed weekly. Institutional acquisitions like Upexi’s $20 million SOL purchase and Defi Development Corp.’s $28 million buy further validate confidence.
This aligns with Wall Street’s broader shift toward staking yields amid plateauing interest rates. REX-Osprey has filed for similar ETFs on XRP, DOGE, and ETH, while Fidelity and firms like Grayscale pursue spot Solana ETFs pending SEC guidance.