- Solana (SOL) dropped 7.84% in 24 hours, trading at $145.08 as of July 1, 2025, while the broader crypto market slipped only 0.24%.
- The price fall occurred ahead of the U.S. launch of the REX-Osprey SOL + Staking ETF, scheduled for July 2, 2025.
- The ETF offers direct exposure to Solana and allows investors to receive staking rewards, setting it apart from conventional crypto ETFs.
- About 80% of the ETF’s assets will be in SOL, with half of those tokens actively staked for rewards.
- Technical analysis shows strong selling pressure and a well-defined descending price channel in SOL trading activity.
Solana saw its price tumble over the last 24 hours, falling by 7.84% to $145.08 as of 20:03 UTC on July 1, 2025. This drop came as the wider cryptocurrency market, measured by the CoinDesk 20 Index, edged down just 0.24% during the same period.
The sharp decline comes one day before the scheduled debut of the REX-Osprey SOL + Staking ETF (ticker: SSK), the first U.S.-listed exchange-traded fund to provide direct exposure to SOL and its staking rewards. The ETF is set for launch on July 2, 2025.
According to details, the ETF will allocate around 80% of its assets to SOL, with half of those coins participating in staking. Staking allows investors to earn passive rewards by helping secure the Solana Blockchain, which uses a proof-of-stake system. The fund operates under the Investment Company Act of 1940, a regulatory framework that analysts note may offer stronger investor protections and support faster approvals.
Analysts say the launch may boost Solana’s profile within U.S. financial institutions. Unlike typical crypto ETFs, this product gives investors both price exposure and access to blockchain-based income. Grayscale, VanEck, and Bitwise are also seeking approval for similar SOL ETFs.
Technical analysis from CoinDesk Research revealed SOL fell from $157.42 to $145.08, losing $12.34 during the 24-hour period. The largest trading volumes were recorded around the $151.50 area, with notable accumulation—meaning buyers entering positions—seen at $146.55. Price movement formed a descending channel, with lower highs and lower lows throughout the session.
Despite interest in the ETF and its innovative features, SOL faced significant selling before the event, showing cautious market sentiment.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Critical RCE Flaw Found in Anthropic MCP Inspector, CVE-2025-49596
- VCs Wary as DeFi Funding Stalls but TradFi Integration Grows
- İşbank Issues $100M Digital Bond on Euroclear to Aid Quake Recovery
- FreeWallet Faces Allegations of Exploitative Crypto Inactivity Fees
- Bella Protocol Launches AI-Powered USDC Coin Flip Game
