REX-Osprey’s SSK, the first US-listed exchange-traded fund (ETF) combining spot Solana (SOL) exposure with on-chain staking rewards, has surpassed $100 million in assets under management (AUM) since its launch on July 2, according to an announcement from the fund provider.
The fund’s rapid growth is attributed to its unique structure. Unlike most crypto ETFs, which are registered under the Securities Act of 1933 and typically cannot distribute staking rewards, SSK is registered under the Investment Company Act of 1940. This allows the fund to distribute monthly staking rewards, akin to dividends, a feature that aligns with investor demand for yield beyond simple asset appreciation.
REX-Osprey founder and CEO Greg King stated in a press release that SSK’s success demonstrates investor interest in blockchain-native products offered through familiar financial instruments. He noted, “opening the door for mainstream investors to access the power of Solana staking through the familiar ETF wrapper.” King also indicated the company plans to expand its ETF lineup, filing for similar structures on XRP, DOGE, and ETH, as part of its strategy to meet client demand for yield-generating investment options.
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Data from CoinGecko indicates Sol is trading above $200 per coin and saw a significant gain of 25.3% over the preceding seven days.
SSK represents a broader institutional trend toward staking-based returns as an alternative income source, especially in a low-interest-rate environment and amidst increased regulatory clarity in the United States. Other platforms offering Ethereum staking and tokenized US Treasury products have also attracted institutional capital.
Coinciding with this market development, Fidelity recently filed an S-1 registration with the SEC for a spot Solana ETF. While currently no (ETH) ETFs provide on-chain staking, SSK’s debut offers a potential pathway, awaiting clearer regulatory guidance and further compliant product development.
