First spot Solana staking ETF notches $33 million in volume on first day trading: Bloomberg's Balchunas
Quick Take
- The “REX-Osprey Solana + Staking ETF,” which made history as the first approved staking ETF in the U.S. on Wednesday, closed the day with approximately $33 million in trading volume, according to Bloomberg Senior ETF Analyst Eric Balchunas on X.
- The fund, which is atypically regulated under the Investment Company Act of 1940 and uses Anchorage as a custodian, also brought in $1 million in assets under management.
The first spot Solana staking exchange-traded fund, which went live on Wednesday at market open, closed the day with approximately $33 million in trading volume, according to Bloomberg Senior ETF Analyst Eric Balchunas on X.
The "REX-Osprey Solana + Staking ETF" closed the day with about $1 million worth of assets under management, Balchunas said, adding that he expects this amount to rise to as much as $10 million during its second day trading based on “today’s volume.”
Unlike many of the so-called “staking ETFs” under consideration by the U.S. Securities and Exchange Commission, the REX-Osprey ETF was registered under the more rigorous securities guidance called the Investment Company Act of 1940, The Block previously reported.
Under the 1940 Securities Act, funds must hold assets with a qualified custodian. REX-Osprey disclosed on Wednesday that it had tapped Anchorage Digital, which is the only federally regulated bank approved to both custody and stake digital assets, as its custodian.
"Staking is the next chapter in the crypto ETF story," Anchorage CEO Nathan McCauley said in the announcement. "This launch marks a major step forward in giving institutions full access to the crypto ecosystem in a regulated package."
Although the SEC is reportedly considering generic guidance that would streamline ETF listings, on Wednesday the agency’s Deputy Secretary J. Matthew DeLesDernier sent a letter to the New York Stock Exchange saying that a recently greenlit Grayscale ETF was under “review” — a sign the securities watchdog may not be fully comfortable bending its traditionally strict listing standards.
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