REX-Osprey Issues Its First Solana ETF Staking-Based Dividend

July is a wrap, but it was quite an interesting month for Solana, mainly because the first U.S staking-based ETF was launched during the month.

Rex Osprey, the ETF issuer behind the ETF, just announced the first-ever Solana staking dividend.

Rex Osprey just announced a $600,000 payout as its first staked Solana ETF dividend. While the figure might seem relatively low, it was worth noting that the ETF has only been trading since mid-July.

More specifically, it only traded for 12 days and still managed to eke out a significant dividend yield.

The Solana ETF’s first dividend payout was a key milestone because it was proof of concept, especially for staking-based ETFs.

This performance suggested that the dividend might have been higher if it had been around longer.

However, it is worth noting that the dividend payout may have been heavily influenced by the prevailing market conditions and network performance during the month.

REX-Osprey Solana ETF Achieves Significant Growth in July

The Solana ETF received $137.4 million worth of liquidity inflows in the 12 days that it was active.

This figure paled in comparison to the level of liquidity flows that Bitcoin and Ethereum ETFs collectively registered during the same period.

BTC and ETH ETFs were much higher because they were backed by multiple individual ETFs. In Solana’s case, it was just REX-Osprey.

Moreover, the timeline was severely limited, but it still managed to achieve significant inflows.

The first success story could potentially pave the way for more Solana ETFs to join the fold. Especially now that institutional demand has been extremely high in 2025.

Analysts have particularly been eager to see whether investment firms like BlackRock will push in favor of Solana next. Especially considering the success that they achieved recently with Bitcoin and Solana ETFs.

SOL Price Recap

July turned out to be an interesting month for Solana’s native coin, SOL. Like its top counterparts, Solana maintained a bullish momentum in the first three weeks of July, building on the trajectory that kicked off in June.

Solana price managed to rally as high as $206 on 22 July but has since pulled back by about 17% to its $168 press time price tag. It previously surged as high as $295 during its previous top in January.

Demand for SOL has made a solid comeback since April. However, it was not as robust as its Q4 2024-Q1 2025 performance during which SOL was one of the top gainers.

It underperformed in price action compared to Ethereum, highlighting a flipped script compared to its Q4 2024 performance.

Solana’s struggle to push to previous highs may have been rooted in its network performance over the last few months.

Network Activity

The network previously experienced robust activity, which was characterized by robust address activity. Solana address activity was highest in Q4 2024, specifically in November.

It has since cooled down substantially, but for reference, daily active addresses surged above 8 million at its peak. That figure has since dropped below 4 million addresses.

This active decline in addresses was reflected in the network’s DEX volume. Weekly DEX volume on Solana registered a slight uptick in July, peaking above $22 billion in the third week.

However, this was just a fraction of the impressive DEX volumes that the network achieved at its peak in January.

Solana DEX volume comparison between June and January confirmed the declining network activity. This could signal that the network did not capitalize on recent market excitement as much as it did with memecoins.