First Solana ETF launches in the U.S.

It's official: the very first Solana ETF starts Wednesday on the U.S. exchange.

It's official: the very first Solana ETF is launching on Wednesday on the U.S. exchange. This is not only the first Solana ETF on U.S. soil but also the first crypto-ETF in the U.S. that directly generates yield via staking. A milestone for the market and for investors.

The so-called REX-Osprey Solana Staking ETF is a View post on X from REX Shares and combines a spot exposure in Solana with an extra bonus: staking yields. Investors thus get not only price appreciation if SOL rises, but also periodic income from the network itself.

Solana's price reacted to the news with a jump of 2.5%. On a weekly basis the coin is up 12.8%, beating heavyweights like Bitcoin, Ethereum and XRP.

REX Shares announced the news itself via a post on X (formerly Twitter): “Coming soon: the first staked crypto ETF in the U.S!” and adds: “A new era of income-generating crypto exposure has arrived.”

Unlike traditional ETFs that have to go through months of SEC approval, this product uses an alternative structure under the Investment Company Act of 1940. The ETF is organized as a so-called C-Corporation, which means no extra registration (the 19b-4) is needed.

The staking yields are taxed inside the fund itself and then paid out as dividends to holders.

The rapid roll-out by REX Shares puts pressure on other Solana ETF applicants, including heavyweights VanEck and 21Shares. Their proposals — which do not include staking — are still with the SEC for review and follow the traditional route for commodity ETFs.

Welcome to the new phase of crypto ETFs where returns come not only from price gains but also from the network itself.