The REX-Osprey Solana Staking ETF made its debut on the Cboe BZX Exchange, showing significant investor interest.
Overview of the First Solana Staking ETF
The REX-Osprey Solana Staking ETF began trading under the ticker SSK and attracted $12 million in investments on its first day, with a trading volume of $33 million. The ETF allows investors to hold Solana tokens while earning staking rewards.
Impact on the Solana Market
According to Eric Balchunas, an ETF analyst at Bloomberg, the trading volume of SSK on its first day was higher than that of previous Solana and XRP ETFs. This indicates a growing interest in Solana and staking-related products.
Current Performance and Forecasts
Currently, Solana is trading at $155.57, with a market capitalization of $83.19 billion. The trading volume over the past 24 hours was $4.11 billion. Current dynamics indicate a steady recovery, and growth expectations remain high.
The debut of the REX-Osprey Solana Staking ETF signals significant interest in Solana and staking products, even though it hasn't reached the popularity of Bitcoin and Ethereum ETFs.
