Solana Staking ETF Racks Up $33 Million Trading Volume On Wall Street Debut, Outperforming XRP Futures ETF Launch

The newly launched REX-Osprey Solana + Staking ETF (SSK), the first crypto staking exchange-traded fund (ETF) listed in the U.S., clocked an impressive $33 million in trading volume on the inaugural day.

This product has notably blown away XRP futures ETFs as well as the Solana futures ETF that were introduced earlier this year. 

SOL Staking ETF Outperforms XRP And Solana Futures ETFs On Day 1

The first spot Solana staking ETF, which went live on Wednesday at market open, ended the day with $33 million in volume and $12 million in inflows, with Bloomberg ETF analyst Eric Balchunas describing the launch as better than the average ETF listing.

The REX-Osprey Solana Staking ETF,  trading under the ticker SSK, offers investors direct exposure to spot Solana while earning staking yields without requiring technical expertise, making it the first crypto staking ETF to be approved in the US.

While the volume was much lower than the launch of Bitcoin (BTC) and Ethereum (ETFs), Balchunas noted that the trading volume was much stronger than recent Solana futures ETF listings or the XRP futures ETFs debut.

It was a “healthy start to trading,” noted Bloomberg ETF analyst James Seyffart, who observed that it had notched $8 million in trading volume in the first 20 minutes.

The price of SOL was hovering at $155.80 as of publication time, a 4.3% increase on the day, according to data from CoinGecko. The token, however, remains 47% below its January 2025 all-time high price of $293.31.

Although the U.S. Securities and Exchange Commission is expected to approve several crypto-focused ETFs this year, Wednesday’s debut represents “a defining moment for digital assets and a significant step forward in full access to the crypto ecosystem,” said Anchorage Digital co-founder Nathan McCauley, whose company is the staking and custodian partner for the REX-Osprey ETF.

“Staking is the next chapter in the crypto ETF story. This launch marks a major step forward in giving institutions full access to the crypto ecosystem in a regulated package,” McCauley added.

Meanwhile, Balchunas and Seyffary estimated a 95% chance that spot Solana ETFs will be approved for launch in 2025.

“We expect a wave of new ETFs in this second half of 2025,” Seyffart said on July 1, forecasting that spot XRP, Solana, and Litecoin products would be approved by the Securities and Exchange Commission before the end of this year.