- REX-Osprey Solana ETF introduces the first U.S.-listed crypto ETF passing staking rewards.
- JitoSOL integration ensures blockchain transparency and efficiency.
- ETF achieves $100 million AUM with $222 million in trading volumes on launch.
REX-Osprey’s Solana Staking ETF, integrated with JitoSOL, now offers U.S. investors full staking rewards, launching on July 2, 2024, surpassing $100 million AUM rapidly.
This integration sets a precedent in crypto ETFs, merging traditional finance with DeFi yield, indicating growing institutional interest and potential market shifts in staking strategies.
REX-Osprey Solana ETF Delivers 100% Staking Rewards
Lede: REX-Osprey introduces first US crypto ETF passing Solana staking rewards to shareholders.
Nut Graph: In a bold move within the cryptocurrency sphere, REX-Osprey’s Solana Staking ETF has integrated JitoSOL, marking its status as the first U.S.-listed crypto ETF to entirely pass Solana staking rewards to shareholders. This development commenced with rapid asset growth.
Partnership Details
REX and Osprey Funds, spearheaded by CEO Greg King, have undertaken this initiative. Jito, the developer of JitoSOL, collaborates to maintain blockchain transparency and efficiency. Trading volumes on launch exceeded $222 million.
This partnership improves capital efficiency while maintaining transparency. Staking continues natively on the Solana blockchain, and all rewards go directly to shareholders. – Greg King, CEO, REX/Osprey Funds
Financial and Market Impact
This venture signifies a substantial shift in DeFi and institutional crypto investment, offering a new channel for capital liquidity. It establishes a precedent that could influence future ETF structures in the regulated investment environment as it grows AUM quickly.
The financial implications are notable, with the ETF surpassing $100 million AUM, signalling heightened institutional interest in crypto yields. The market response has been robust, reflecting confidence in the new system’s efficiency and shareholder benefits.
Regulatory Considerations
Initial regulatory outcomes remain speculative as no direct guidance from entities like the SEC has been released regarding this framework. However, this could catalyze further experimentation with yield-generating crypto ETFs among financial institutions cautiously observing the results.
Solana’s Role and DeFi Impact
The integration of JitoSOL positions Solana to potentially expand its influence, bolstered by institutional-grade liquidity mechanisms that promise sustainable investment opportunities. This step not only impacts Solana directly but also the broader DeFi landscape.
