In a first for the crypto ETF market, REX-Osprey, a joint venture between REX Shares and Osprey Funds, launched the REX-Osprey Solana + Staking ETF SSK, the first U.S.-listed ETF to provide both spot Solana (SOL/USD) exposure and staking returns in a typical brokerage account.

This product sets a precedent among ETFs by combining conventional investment vehicle designs with blockchain-native income streams. In contrast with derivatives-based crypto products, SSK seeks pure-play SOL exposure without futures-based contango drag and introduces a twist: staking rewards, which presently return 7.3%, are rebated to investors, with no take by the fund sponsors.

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How It Works

The ETF will allocate its assets as follows:

• Majority in directly staked SOL, held securely and earning rewards from Solana’s native blockchain
• Up to 40% in exchange-traded products that themselves stake SOL
• A slice in liquid staking tokens such as JitoSOL

This framework not only provides investors with direct exposure to the Solana price action, but also to the passive income opportunity of staking without having to use a personal wallet or directly interact with the blockchain.

TradFi Meets DeFi

SSK differentiates itself in a crowded space of crypto asset ETFs by combining the convenience and transparency of traditional ETFs with actual involvement in blockchain economics. It’s targeted at retail investors and institutions looking for yield on their crypto exposure in a more familiar package.

Although innovative, SSK is not riskless. As the issuer explains, the fund does not signify ownership of SOL and involves substantial market risks, including the possibility of loss of principal.

Nevertheless, with this introduction, REX-Osprey has risked more than crypto; it has carved out a first-mover advantage in an ETF space that’s rapidly evolving.

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