A new milestone in the U.S. crypto investment space is about to be reached, as the first-ever staked Solana ETF is coming soon. Rex-Osprey is all set to launch a Staked SOL ETF this week, per industry analysts.
ETF Analyst Offers Timeline On Solana Staking ETF Launch
According to ETF expert James Seyffart, the Solana Staking ETF may go live as early as this week. In collaboration with Osprey Funds, the ETF offers exposure to Solana (SOL) and the added benefit of on-chain staking rewards.
The fund, called the REX-Osprey™ SOL + Staking ETF, tracks the price movement of Solana. However, it does more than that. Staking, which involves locking tokens on the blockchain to help validate transactions, is another way it generates revenue.
In return, this process earns passive rewards, which are then passed on to investors. This makes the ETF different from most current crypto ETFs, which typically offer only price exposure and no yield.
REX Shares, in partnership with Osprey Funds, has confirmed the launch of this staking-enabled crypto ETF, a first for the U.S. The fund uses a 40 Act structure, which is different from other applications filed under the 30 Act. This legal approach could give it an edge in regulatory approval.
REX-Osprey CEO Gregory King also confirmed that the ETF launch is nearing. Yet, it is still uncertain if other upcoming Solana ETF applications will be approved by the SEC anytime soon.
Solana is a high-speed and low-cost blockchain that has gained traction among retail and institutional investors. The inclusion of staking in the ETF increases its appeal by generating a passive income stream, similar to dividends for stocks.
If approved for listing this week, the REX-Osprey Solana ETF could pave the way for similar products in the future, especially as interest in yield-generating crypto products continues to grow. Further, Solana (SOL) is at $157.00 with a 24-hour increase of 4.31%. Its market capitalization is around $2 million, an indication of increased investor interest.
Also Read: Solana ETF ‘’90% Likely This Year,” Says Upexi CEO & CSO
