The Solana SSK ETF from REX-Osprey reached over $100 million in assets under management (AUM) within 12 trading days. The Solana SSK ETF launched on July 2, 2025, and became the first United States-listed exchange-traded fund to combine spot Solana exposure with on-chain staking rewards.
Most crypto ETFs in the U.S. are registered under the Securities Act of 1933. That framework does not permit funds to distribute staking rewards to investors. In contrast, the Solana SSK ETF is registered under the Investment Company Act of 1940. This structure allows the fund to pay out staking income as dividends. These payments are issued regularly to investors.
Greg King, CEO of REX-Osprey, said the Solana SSK ETF gives mainstream investors a way to access staking rewards through an ETF format. He emphasized that the fund is the first of its kind in the country to deliver staking income tied directly to spot Solana.
Solana Staking Income Gains Institutional Attention
The launch of the Solana SSK ETF marks a shift toward staking income strategies among institutional asset managers. With global interest rates no longer rising and Bitcoin showing slower growth, institutions are looking for new yield sources.
Several platforms now report steady inflows into staking-based products. These include Ethereum staking services and tokenized Treasury products. The Solana SSK ETF adds to this trend by offering monthly payouts from Solana staking activity.
Greg King said the product attracts registered investment advisers (RIAs) and clients who want staking income without managing crypto wallets. He confirmed that REX-Osprey has filed for more ETFs that use a similar structure. These filings coverXRP, DOGE, and ETH. He also stated the firm is considering other cryptocurrencies for future products.
The Solana SSK ETF remains the only U.S.-listed product that offers direct staking income on Solana while staying within legal limits. Its setup under the 1940 Act is different from standard crypto ETFs. That distinction enables income distribution from staking.
Fidelity and Others Move Toward Solana ETF Offerings
Several large asset managers have shown interest in launching their own Solana ETFs. On June 13, 2025, Fidelity submitted an S-1 registration form to the U.S. Securities and Exchange Commission (SEC) for a spot Solana ETF. Other firms in line for approval include 21Shares, Franklin Templeton, Grayscale, Bitwise, and Canary Capital.
ETF analyst James Seyffart confirmed that these filings aim to bring more Solana ETF options to U.S. markets. However, none of the pending applications include a staking component. Current Ethereum ETFs also do not support on-chain staking rewards.
The Solana SSK ETF remains the only staking ETF registered under the Investment Company Act of 1940. Its structure could serve as a reference point for other firms exploring similar strategies under existing regulations.
Solana Price Moves Alongside ETF Inflows
The value of Solana (SOL) increased during the same period that the Solana SSK ETF attracted inflows. According to CoinGecko data, Solana traded above $200 as of July 22. It gained 25.3% over the previous seven days.
The ETF’s strong early performance coincided with this market activity. The fund’s structure allows investors to gain spot Solana exposure while also receiving monthly staking rewards through dividend payments.
Greg King noted that REX-Osprey plans to expand its Solana staking ETF lineup. The company intends to offer other staking ETFs based on the same framework. These include funds linked to other cryptocurrencies where staking is possible and permitted by regulation.
The Solana SSK ETF shows one method for combining staking income with regulated investment formats. Its model could support similar developments in future products.
