A groundbreaking cryptocurrency ETF offering US investors access to Solana and staking rewards is scheduled to launch this Wednesday.
The “REX-Osprey Solana and Staking ETF” will be the first of its kind in the United States, according to REX Shares, the company behind the fund. It’s designed to provide investors with exposure to Solana (SOL) while also allowing them to earn yield through staking — a combination that could appeal to both retail and institutional participants.
This move comes after updates to the fund’s prospectus and encouraging discussions with the US Securities and Exchange Commission (SEC), particularly around its C-Corp structure — a format that had previously raised regulatory concerns in relation to ETF rules.
Although the SEC ruled in May that staking itself doesn’t breach securities laws, the agency has yet to fully approve or deny ETFs tied to staked assets or altcoins.
Solana Price Rallies on ETF Buzz
Following the ETF announcement, Solana’s price surged about 6%, reaching $158, marking a weekly gain of over 12%. Despite recent momentum, SOL remains down approximately 46% from its January all-time high, based on CoinGecko data. Solana’s market cap currently stands around $83.5 billion, ranking it as the sixth-largest cryptocurrency.
Analysts believe this ETF milestone could kick off a wave of altcoin-related funds — potentially ushering in what some are calling an “altcoin summer.” Bloomberg ETF expert Eric Balchunas noted in June that multiple altcoin-focused ETFs are on track for regulatory green lights by July, with Solana leading the charge.
Solana has also been making strides in the decentralized exchange (DEX) arena. Recent TradingView data highlights that Solana-based platforms like Raydium, Orca, and Pump.fun have helped DEX trading volumes on the network surpass those of Ethereum.
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