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Solana Staking ETF Blasts Off: $12M on Day One

1 day ago
Bitcoin Ethereum News

Key Notes

  • The REX-Osprey Solana Staking ETF (SSK) debuted with $12 million in inflows and $33 million in trading volume.
  • Solana’s price is consolidating within a symmetrical triangle pattern, targeting highs of $194–$305.
  • CME SOL futures hit an open interest at $167 million, and analysts forecast a 95% chance of a spot SOL ETF by year-end.

The United States’ first Solana staking exchange-traded fund (ETF) — the REX-Osprey Solana Staking ETF (SSK) — roared into its debut with $12 million in inflows and $33 million in trading volume on its first day.

Trading on the Cboe BZX Exchange, the ETF gives investors direct exposure to Solana (SOL) while offering staking yields, a first-of-its-kind product on American soil.


A “Healthy Start” with Big Implications

Bloomberg ETF analyst James Seyffart called it a “healthy start to trading,” noting the fund clocked $8 million in volume within just 20 minutes of launch.

His colleague Eric Balchunas added that the day-one numbers “blow away” those of the Solana and XRP futures ETFs, though they fall short of the $4.6 billion “frenzy that marked the launch of spot Bitcoin ETFs in January 2024.

“The launch of crypto staking ETFs is a defining moment for digital assets and a significant step forward in full access to the crypto ecosystem,” wrote Anchorage Digital co-founder Nathan McCauley.

It is important to note that Anchorage Digital, a regulated crypto infrastructure provider, serves as the staking and custodian partner for the fund.

Despite facing SEC objections earlier this year, the REX-Osprey ETF successfully navigated regulatory waters by structuring itself under the Investment Company Act of 1940.

The clever workaround let it bypass the standard 19b-4 process — a move Nate Geraci, president of NovaDius Wealth Management, dubbed a “regulatory end-around”.

Solana Price Analysis: Poised for Breakout?

While SSK’s launch didn’t generate a sharp immediate price reaction, Solana’s technical landscape is growing increasingly bullish.

At press time, SOL trades near $154.55, up about 4.4% in the past day and 7% on the week, though still down nearly 48% from its January peak, according to CoinMarketCap data. However, the daily chart reveals a symmetrical triangle formation tightening near a breakout point.

The Fib extension levels suggest strong bullish potential with targets at:

  • 1.618: $194.70
  • 2.618: $237.02
  • 3.618: $279.34
  • 4.236: $305.49

SOL Symmetrical Triangle | Source: TradingView

Meanwhile, the MACD is curving upward, hinting at a possible bullish crossover, often a precursor to trend continuation. The BoP reading is beginning to spike, suggesting bulls are starting to regain control of momentum after a period of indecision.

What’s Next?

Analysts Seyffart and Balchunas now estimate a 95% chance that spot Solana, XRP, and Litecoin ETFs will be approved by the end of 2025. With Solana CME futures already seeing record open interest of $167 million, institutional appetite is heating up.

As regulatory clarity improves and traditional investors find new access points to crypto yields, Solana might be on the cusp of its next leg up, with the symmetrical triangle breakout potentially propelling prices toward the $200–$300 range in the near future.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Parth Dubey

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

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Source: https://www.coinspeaker.com/solana-staking-etf-blasts-off-12m-on-day-one/