REX-Osprey’s SOL Spot ETF Launches as First US Staking ETF Amid Solana Market Challenges

On July 1st, Bloomberg’s senior ETF analyst Eric Balchunas announced that the REX-Osprey SOL Spot ETF (SSK) will commence trading this Wednesday, marking the first US ETF to incorporate staking features. To comply with the 1940 Act, approximately 40% of the fund’s assets will be allocated to Solana-related exchange-traded products (ETPs) classified as securities. The fund carries a management fee of 0.75%, but due to its C-class corporate structure, total expenses post-tax are expected to reach 1.28%. While this launch is significant, investors should maintain realistic expectations given the modest asset growth of Solana futures ETFs like SOLZ, which has only amassed $22 million in assets three months post-listing despite a 15% price increase in Solana. Unlike Bitcoin spot ETFs, Solana ETFs have yet to experience competitive fee reductions or attract major institutional players such as BlackRock or Fidelity, highlighting the nascent stage of this market segment.