The first US Solana staking ETF has wrapped up its opening session with significant momentum.<\/p>\n
The new fund attracted $12 million in inflows and closed the day with $33 million in trading volume, according to Bloomberg ETF analyst Eric Balchunas.<\/p>\n
Trading under the ticker SSK on the Cboe BZX Exchange, the REX-Osprey Solana Staking ETF is the first of its kind in the United States, which provides direct exposure to spot Solana while allowing investors to capture staking yields.<\/p>\n
The product\u2019s debut comes amid rising interest in crypto-related ETFs but was marked by a performance gap compared to the blockbuster first-day volumes seen with spot Bitcoin and Ether ETFs earlier this year.<\/p>\n
In the latest tweet, Balchunas also noted<\/a> that SSK\u2019s launch surpassed the volumes of Solana and XRP futures ETFs and even outpaced the typical ETF launch.\u00a0Despite this, the fund remained significantly below the $4.6 billion first-day trading activity recorded by spot Bitcoin ETFs in January 2024.<\/p>\n The ETF\u2019s structure allowed it to move forward without the standard 19b-4 filing process, using the Investment Company Act of 1940.<\/p>\n As Balchunas had previously explained<\/a>, it achieved this by allocating at least 40% of its assets to other exchange-traded products, primarily outside the US. This approach followed prior regulatory pushback from the SEC, which initially raised concerns about the product\u2019s qualification under securities laws.<\/p>\n As such, Anchorage Digital is tasked with serving as the ETF\u2019s staking and custodian partner.<\/p>\n Bloomberg\u2019s James Seyffart described<\/a> the opening as a \u201chealthy start,\u201d and added that $8 million worth of shares traded hands within the first 20 minutes.<\/p>\n The trading debut may help gauge institutional appetite for a potential spot Solana ETF in the country, which analysts believe could receive approval later this year. Balchunas and Seyffart have recently assessed a 95% probability for such approvals before year-end, which reflects optimism in the broader market despite the current subdued volumes in spot Bitcoin and Ether ETFs.<\/p>\n The post SSK Makes Strong Debut as First US Solana Staking ETF, Logs $33M Volume<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The first US Solana staking ETF has wrapped up its opening session with significant momentum. The new fund attracted $12 million in inflows and closed the day with $33 million in trading volume, according to Bloomberg ETF analyst Eric Balchunas. SSK Outperforms Solana, XRP Futures Volume Trading under the ticker SSK on the Cboe BZX […]<\/p>\n","protected":false},"author":0,"featured_media":78127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-78126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/78126"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=78126"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/78126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/78127"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=78126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=78126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=78126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}SSK Off To A \u201cHealthy Start\u201d<\/h2>\n