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Solana Staking ETF Makes History with $12M First-Day Haul
The world of cryptocurrencies witnessed a groundbreaking milestone as the first US crypto staking exchange-traded fund (ETF) launched successfully, garnering an astonishing $12 million in inflows on its inaugural day. The REX-Osprey Solana Staking ETF, trading under the ticker SSK, also achieved an impressive $33 million in trading volume within 24 hours of going live.
As a significant milestone for institutional investors, this historic first-day haul signals growing interest in Solana-based financial products. Bloomberg analysts have recently assigned a 95% probability that spot Solana ETFs will receive approval by the end of 2025, indicating a promising outlook for the cryptocurrency and related investment opportunities.
The newly launched ETF offers investors direct exposure to spot Solana, along with staking yields. This innovative structure allows investors to earn staking rewards without requiring technical knowledge about cryptocurrency staking processes. Anchor Digital serves as the staking and custodian partner for the REX-Osprey ETF, further solidifying its reputation in the digital asset space.
As the market reacted to this historic event, Solana’s price rose by 4%, surpassing $150. The cryptocurrency has gained a moderate 3.6% over the past 24 hours, although it is still down approximately 48% from its January peak.
The ETF’s remarkable performance highlights growing institutional demand for spot Solana ETFs and other staking products. Notably, trading volume in this ETF outperformed recent launches of both Solana futures ETFs and XRP futures ETFs, though it remains lower than the record-setting first-day haul achieved by Bitcoin and Ethereum ETFs in January 2024.
As institutional investors continue to explore crypto-related investment opportunities, the success of this new ETF highlights the growing importance of staking rewards.
Source: coincentral.com
