- Solana surged by about 5% amid reports of a new staking exchange-traded fund (ETF) launching soon.
- The REX-Osprey SOL+Staking ETF is expected to begin trading as early as Wednesday, according to an Osprey spokesperson.
- The ETF, which would be the first of its kind in the U.S., follows recent regulatory filings and social media hints of approval.
- The price of SOL later stabilized, trading up approximately 2.3% over the past 24 hours at $157 at press time.
- Other firms are still awaiting approval for additional spot SOL ETFs, which may also feature staking options.
Solana (SOL) rose about 5% on Monday following reports that a SOL staking exchange-traded fund (ETF), created by Rex Shares and Osprey Funds, could start trading later this week in the United States.
An Osprey spokesperson confirmed to CoinDesk that the fund will launch on Wednesday. These reports followed online speculation, including a recent post by the Unfolded account on X.
Last week, Rex Shares submitted a letter to the Securities and Exchange Commission (SEC) asking if all agency comments on their ETF filing had been resolved. Later that same day, the asset manager posted on X that the ETF was “coming soon,” suggesting no remaining SEC concerns.
The REX-Osprey SOL+Staking ETF would be the first product in the U.S. to offer exposure to Solana staking through an exchange-traded structure. Staking allows crypto holders to lock up their tokens to help operate the network and, in return, earn rewards.
Several other firms have pending filings for spot SOL ETFs, which would let investors buy SOL tokens through stock markets and may also include staking features.
After the initial jump, the price of SOL fell back slightly but remained up by roughly 2.3% over 24 hours, trading at $157 at press time.
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