First Solana staking ETF to launch in US — CryptoPotato

REX-Osprey has unveiled the first-ever US exchange-traded fund (ETF), allowing investors to earn yield by staking Solana. Trading is set to begin on July 2. As reported by CryptoPotato, the launch follows regulatory approval of the fund's structure that circumvents existing restrictions.

To comply with US Securities and Exchange Commission (SEC) regulations, REX-Osprey will allocate at least 40% of its assets to other financial products, including foreign Solana-based exchange-traded funds and products. According to Bloomberg analyst Eric Balchunas, this specific requirement proved crucial in securing the ETF's approval.

As noted by FRNT Financial's Strahinja Savic, this marks another step toward integrating crypto assets into the US economy.

Following the announcement, Solana's price jumped nearly 5% before giving up most of its gains.