A new ETF for staking the cryptocurrency Solana, known as REX-Osprey Solana Staking ETF, has officially launched in the U.S. This is the first product of its kind in the U.S. cryptocurrency market.
What is REX-Osprey Solana Staking ETF?
The REX-Osprey Solana Staking ETF (Ticker: SSK) is a fund that allows investors to invest in Solana (SOL) and earn staking rewards. Unlike traditional ETFs, this fund does not just track the price of Solana; it actually holds real SOL tokens and stakes them, providing passive income for its investors. This offering is the first of its kind in the U.S. market.
Benefits of Investing Through This ETF
A key benefit of SSK is that it passes through 100% of the staking rewards to its investors, paid monthly. The current staking reward rate for Solana stands at approximately 7.3%, meaning investors can receive yield in addition to price performance.
Current Market Situation for Solana
As of today, the price of Solana (SOL) stands at $149.38, which is a slight increase of 0.45% over the past 24 hours. The market cap of Solana approaches $80 million. Experts note that the ETF launch will have a significant impact on the market.
The launch of the REX-Osprey Solana Staking ETF represents an important step for the cryptocurrency market in the U.S. This investment tool offers unique opportunities for earning staking income, attracting the attention of both new and experienced investors.
