The announcement of the Solana staking ETF has significantly increased SOL's price, attracting the attention of investors and traders alike.
Launch of Solana Staking ETF
Solana (SOL) surged sharply to nearly $160 following the announcement of the first-ever staking ETF, set to begin trading in the U.S. The ETF, named the REX-Osprey SOL + Staking ETF, combines spot exposure with staking yield, making it the first of its kind on a public exchange.
Short Liquidations
As soon as the ETF was announced, Solana’s price spiked, leading to nearly $9 million in short positions being liquidated. Traders betting against SOL were caught off guard as the news drove prices up rapidly. This sharp squeeze added momentum, propelling SOL past key resistance levels.
New Phase for Altcoins
The Solana staking ETF marks a new era for altcoin exposure in regulated markets. Unlike previous ETFs that focused solely on Bitcoin or Ethereum, this product adds the ability to earn staking rewards. Analysts are calling this a potential turning point for altcoins in the ETF space, possibly paving the way for similar products for Ethereum, Polkadot, or Avalanche.
The launch of the staking ETF for Solana is seen as a positive indicator of the increasing maturity of the crypto sector, with Solana now joining the list of digital assets accessible to institutional investors through regulated financial products.
