First spot Solana staking ETF notches $33 million in volume on first day trading: Bloomberg’s Balchunas

The first spot Solana staking exchange-traded fund, which went live on Wednesday at market open, closed the day with approximately $33 million in trading volume, according to Bloomberg Senior ETF Analyst Eric Balchunas on X. The "REX-Osprey Solana + Staking ETF" closed the day with about $1 million worth of assets under management, Balchunas said, adding that he expects this amount to rise to as much as $10 million during its second day trading based on “today’s volume.”Unlike many of the so-called “staking ETFs” under consideration by the U.S. Securities and Exchange Commission, the REX-Osprey ETF was registered under the more rigorous securities guidance called the Investment Company Act of 1940, The Block previously reported. Under the 1940 Securities Act, funds must hold assets with a qualified custodian. REX-Osprey disclosed on Wednesday that it had tapped Anchorage Digital, which is the only federally regulated bank approved to both custody and stake digital assets, as its custodian. "Staking is the next chapter in the crypto ETF story," Anchorage CEO Nathan McCauley said in the announcement. "This launch marks a major step forward in giving institutions full access to the crypto ecosystem in a regulated package."Although the SEC is reportedly considering generic guidance that would streamline ETF listings, on Wednesday the agency’s Deputy Secretary J. Matthew DeLesDernier sent a letter to the New York Stock Exchange saying that a recently greenlit Grayscale ETF was under “review” — a sign the securities watchdog may not be fully comfortable bending its traditionally strict listing standards.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.