U.S. asset manager Rex Shares and crypto platform Osprey Funds have partnered to launch the first-ever Solana (SOL) staking exchange-traded fund (ETF) in the United States. It is dubbed the REX-Osprey SOL + Staking ETF, with the ticker symbol SSK. It went live on Wednesday, July 2, 2025.
Now trading: The REX-Osprey™ SOL + Staking ETF, $SSK! 🆕🎉
The first U.S.-listed ETF offering native Solana staking rewards.
✅SOL Exposure.
✅Assets actively staked.
✅100% of staking rewards passed through, paid monthly.Solana exposure with staking rewards, delivered… pic.twitter.com/qYAOjUF31H
— REX Shares (@REXShares) July 2, 2025
Notably, Rex Shares has been in the business of ETF issuance for many years in the U.S. It gave birth to Osprey Funds in 2019. Following two progressive years, Osprey Funds moved to become a standalone crypto firm in 2021.
First-Ever SOL Staking ETF
As revealed by Bloomberg ETF analyst James Seyffart, following SSK’s debut, investors rushed into the fund, resulting in approximately $8 million in trading volume within its first twenty minutes of being live. Moreover, SOL, its backing cryptocurrency, made a notable turn on its debut day, outperforming the bearish crypto market as it saw an over 4% increase from $145 to $151 within a few hours.
Notably, SSK enables investors to gain indirect exposure to SOL while earning passive staking rewards within a regulated framework. It offers a 7.3% staking reward, providing a unique opportunity for investors interested in the Solana ecosystem.
SSK’s debut follows a recent development from Robinhood, a famous U.S. financial services firm. On Monday, Robinhood reintroduced SOL staking for its U.S.-based customers, allowing them to earn rewards on their holdings over a specific or flexible period.
Spot SOL ETFs Await SEC Approval
While the REX-Osprey SOL + Staking ETF has started trading, the U.S. Securities and Exchange Commission (SEC) has yet to approve many pending applications for Spot Solana ETFs. Meanwhile, intending issuers and investors remain hopeful as the chances of its approval have risen to 90% based on a June 2025 analysis.
Adding fuel to the confidence is the recent SEC move to simplify the approval process for token-based ETFs. Upon implementation, the new amendment will allow issuers to skip the 19b-4 application when the intending cryptocurrency meets specific criteria. This will also limit the SEC evaluation and approval period to just 75 days.
Meanwhile, the Ontario Securities Commission (OSC) of Canada has given the green light to spot Solana ETFs in its region.
