First Solana Staking ETF to Launch in the U.S. Under Ticker SSK

On July 2, 2025, the first exchange-traded fund (ETF) offering staking rewards for Solana (SOL) tokens will begin trading in the United States. The fund, launched by REX Shares and Osprey Funds, will be listed under the ticker SSK and represents a significant step toward integrating blockchain-based yields into regulated financial markets.

According to Bloomberg, the yield-generating ETF has received regulatory approval. To comply with investment fund regulations, the issuer agreed to allocate at least 40% of assets into other exchange-traded products (ETPs) that track Solana performance and staking mechanisms, many of which are domiciled outside the United States.

Navigating Regulatory Hurdles

Bloomberg ETF analyst Eric Balchunas explained that the ETF structure was specifically designed to bypass traditional restrictions imposed by the U.S. Securities and Exchange Commission (SEC). The SEC had initially raised objections regarding the ETF’s classification under federal investment company standards after approving the initial registration.

The compromise involved diversifying the ETF’s portfolio with exposure to foreign-registered Solana-related products, many of which qualify as securities under global financial rules.

Implications for Crypto Finance

Strahinja Savic, Head of Data and Analytics at FRNT Financial, noted that the approval of a staking-based ETF signals a strengthening relationship between public financial markets and the crypto economy. He added that the Trump administration has increasingly supported initiatives that allow crypto assets to be recognized as legitimate financial instruments within the U.S. economy.

Comparison to Similar Products

The SSK launch follows other Solana-related ETFs introduced earlier this year, including Volatility Shares Solana ETF (SOLZ) and the leveraged SOLT product, both focused on futures and derivative instruments linked to Solana.

Market Reaction

Following the announcement, the price of SOL surged by 5.3%, jumping from $150 to $158 before correcting to $153. The token has risen 7% over the past week, showing signs of recovery. Nevertheless, it remains nearly 50% below its all-time high in January 2025, which was largely driven by speculative interest in meme tokens.

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