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US Gets First Solana Staking ETF, Debuts with $12 Million Inflows
The cryptocurrency market has witnessed a significant breakthrough as the first-ever United States-based exchange-traded fund (ETF) offering exposure to Solana (SOL) while also providing built-in staking rewards has officially launched. As per recent updates, this innovative product has garnered an astonishing $12 million in inflows and generated $33.6 million in trading volume on its debut day.
The REX-Osprey Solana + Staking ETF (SSK) marks a crucial milestone for both the ETF industry and the cryptocurrency sector as it gives investors a seamless way to partake in SOL’s price appreciation, along with staking yields that currently stand at 7.3% annually. Unlike other futures-based ETFs, this newly launched ETF directly purchases actual SOL tokens, providing direct exposure to the asset’s price movements.
Greg King, CEO of REX Financial, stated that “This is a significant milestone for ETFs and the crypto industry,” further emphasizing that “With SSK, we’re giving investors Solana staking rewards in a familiar ETF format—something never done before in the US market. We’ve essentially built a bridge between the world of traditional securities investments and the world of crypto investments.”
The launch of this ETF is likely to instill confidence within the Solana community and potentially pave the way for its mainstream adoption.
Source: www.cryptonewsz.com
