Rex Shares and Osprey Funds have selected Anchorage Digital as the exclusive custodian and staking partner of Rex-Soprey Solana + Staking ETF (SSK), the first US-listed crypto staking exchange trading fund (ETF).
Funds that provide investors with exposure to Solana
Unlike existing Spot Bitcoin and Ethereum ETFs under different regulatory frameworks, SSK is registered under the 1940 Investment Companies Act. In other words, to hold the underlying assets, you need a qualified custodian rather than a fund issuer. Anchorage Digital, the only federally regulated bank currently authorized for both custody and stake digital assets, will do its job.
“Stakeking is the next chapter in the Crypto ETF story,” said Nathan McCauley, CEO and co-founder of Anchorage Digital, in the release. “The launch of Crypto Staking ETFS marks a great step forward in winning for consumers and full access to the crypto ecosystem.”
ETFs also participate in blockchain staking mechanisms, while giving investors an indirect exposure to Solana. Staking allows holders of certain cryptocurrencies to earn rewards by locking their tokens into the network. This previously required technical know-how and direct interaction with cryptographic protocols.
By enveloping the ETF structure, Rex Shares and Osprey aim to enable a wider range of investors to access the process through traditional securities accounts.
SOL is up 2% over the last 24 hours, at $150.
The launch of SSK is exploring new ways for publishers to bring blockchain-based products to regulated exchanges as the Crypto ETF market continues to evolve beyond Bitcoin and ether. The introduction of staking ETFs is a new phase for the industry, featuring revenue-generating capabilities and exposure to digital assets all within investment instruments that regulate their exposure to second-limited investments.
