The cryptocurrency market has welcomed a new product: the first ETF enabling the staking of Solana in the U.S. offers passive income opportunities for investors.
Launch of the ETF and its Features
Launched under the ticker SSK on the Cboe BZX exchange, this is the first U.S. ETF allowing staking of Solana, combining spot exposure with passive yield. Although it is smaller in scale compared to Bitcoin and Ethereum ETF debuts, analysts noted that it significantly outperformed futures-based crypto funds linked to SOL and XRP.
Regulatory Challenges
The ETF launch did not come without regulatory complications. The SEC initially challenged the fund's structure, leading issuers to rework the model to fit under the Investment Company Act of 1940 by allocating a sizable portion of assets to foreign ETPs, thus avoiding the need for direct spot ETF approval.
Market Response and Analyst Forecasts
The launch comes as anticipation builds for more crypto ETFs beyond Bitcoin and Ether. Bloomberg analysts now estimate a 95% chance that spot Solana, XRP, and Litecoin ETFs will be approved before the end of 2025. Despite the ETF debut, Solana's price showed minimal immediate reaction, though open interest in CME Solana futures hit a new high, hinting at a quietly building institutional appetite.
The launch of the staking ETF for Solana in the U.S. marks an important step in the cryptocurrency market's development, continuing to fuel interest in this new class of assets.
