A new chapter for Solana (SOL) is unfolding as excitement grows around a possible new investment product in the US market. Rex-Osprey’s CEO, Gregory King, has allegedly confirmed that his firm’s Solana staking ETF will launch on July 2, becoming the first of such a fund to roll out.
REX-Osprey to Launch First Staking-Enabled Solana ETF in the US
In an X post, journalist db stated that the Rex-Osprey CEO has confirmed that the Solana ETF with staking will begin trading on Wednesday, July 2. It remains unknown if the SEC will approve the other pending Solana ETF applications or if Rex-Osprey’s fund will stand alone for a while.
The firm had taken a different route by using the 40 Act structure, while other issuers had filed under the 30 Act structure. Based on the REX Shares X post, this update will catch the attention of many investors who have been waiting for more regulated ways to gain exposure to Solana. Solana, known for its fast and low-cost transactions, has become one of the most popular blockchains.
Its native token, SOL, has seen strong interest from both retail and institutional investors. The idea of an ETF for Solana is not new, but the addition of staking support marks a big milestone.
Staking allows token holders to lock up their assets to help secure the network and, in return, earn rewards. Including staking in an ETF could make it more attractive because it offers a way to generate extra yield.
Earlier, REX Shares announced the upcoming launch of the first staking-enabled crypto ETF in the United States. This new fund is called the REX-Osprey SOL + Staking ETF.
It is designed to offer investors exposure to SOL while also allowing them to benefit from staking rewards, something traditional ETFs do not provide. The possible launch of this ETF comes as interest in crypto-based investment products continues to rise.
Staking-Enabled SOL ETF Could Redefine Crypto Investment for Traditional Investors
REX’s Solana ETF launch suggests a shift in the crypto investment space. It shows that there is strong demand for more advanced products that go beyond simple price tracking.
By adding staking, the new ETF offers a chance for passive income in addition to price appreciation. This could attract more conservative investors who want to enter the crypto market but still look for some form of return similar to dividends in stocks.
If the SOL ETF with staking support launches this week as hinted, it will be the first of its kind in the US market. It could also set the stage for other crypto ETFs to follow with similar features.
In a new update, RES Shares has confirmed that it will launch the first-ever staked crypto ETF in the US on Wednesday. Many see this as a big step forward for crypto adoption among mainstream investors.
The market now waits to see if this new fund will meet expectations and spark more innovation in the sector. Meanwhile, current CoinMarketCap data shows that SOL trades at $157, up over 4% in the last hour and with a 22.18% rise in trading volume to $3.06 billion.
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
He holds a degree in Geophysics from OAU, Nigeria. When he’s not writing, he loves watching soccer and reading educative journals.
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Source: https://coingape.com/solana-staking-etf-could-launch-this-week/