REX-Osprey's Breakthrough: First SOL Staking ETF Launches in the US
On June 30th, the REX-Osprey Solana Spot Staking ETF received regulatory approval, becoming the first cryptocurrency ETF in the US market to include on-chain staking rewards. Trading begins this Wednesday, July 2nd. Following the announcement, SOL's price surged nearly 6%, briefly surpassing $160 before stabilizing at $154.
This unexpected approval came from relatively obscure firms REX Shares and Osprey Funds, beating out Wall Street giants struggling with Bitcoin and Ethereum ETF applications. Their REX-Osprey SOL Staking ETF utilizes a unique C-Corp structure that:
- Holds SOL while participating in on-chain staking
- Targets at least 50% staking participation for ~7% annual yield
- Passed SEC scrutiny despite initial concerns about corporate taxation
Unlike traditional 1940 Act funds from VanEck or Bitwise that simply hold un-staked crypto, this actively-managed ETF may deviate from SOL's price movements due to staking lockups and management fees. While potentially "extracting value" from Solana's ecosystem, it provides institutional investors their first compliant gateway to SOL exposure.
Top Solana-Focused Public Companies
DeFi Development Corporation (DFDV)
The purest Solana play in US markets, DFDV has:
- Accumulated 600,000+ SOL ($100M+ position)
- Acquired Solana validator nodes for infrastructure participation
- Partnered with Bonk on staking operations
- Seen shares surge 30x since April rebranding
SOL Strategies Inc. (HODL/CYFRF)
This Canadian firm underwent dramatic transformation:
- Shifted from Bitcoin-focused to SOL-exclusive strategy
- Grew holdings from zero to 239,000 SOL in six months
- Operates validator nodes with 1.65M SOL staked (7% avg yield)
- Created innovative SOL-denominated bond financing
Classover Holdings (KIDZ)
The online education company surprised markets by:
- Announcing $500M SOL treasury reserve plan
- Purchasing initial 6,472 SOL ($110K) position
- Seeing 46% stock price spike post-announcement
Upexi Inc. (UPXI)
This consumer brands company has:
- Committed $90M of $100M fundraising to SOL purchases
- Tokenized its SEC-registered shares on Solana
- Grown holdings to 735,692 SOL ($105M value)
- Seen 15% stock jump following ETF news
Key Solana Ecosystem Projects
Raydium (RAY)
- Solana's most established DEX with 55%+ chain volume
- Features deep liquidity pools and token burn mechanisms
- Price jumped 6% post-ETF news to $2.20
Jupiter (JUP)
- Leading Solana swap aggregator routing 50-60% of network volume
- Essential infrastructure with 80%+ organic user share
- 9% price surge to $0.48 after approval announcement
Jito (JITO)
- Dominant liquid staking protocol with $1.7B TVL
- Attracts institutional interest through MEV-enhanced yields
- 14% price spike to $2.49 before correction
👉 Explore Solana investment opportunities
FAQ
Q: How does the REX-Osprey ETF differ from traditional crypto ETFs?
A: It actively stakes SOL for yield rather than passively holding, though this introduces additional management risks and tax implications.
Q: Which public company has the largest SOL position?
A: DeFi Development Corporation (DFDV) currently holds over 600,000 SOL worth approximately $100 million.
Q: What makes Solana staking attractive to corporations?
A: The 7-9% annual yields transform crypto holdings into productive assets generating steady income streams.
Q: Which Solana DeFi protocols benefit most from institutional adoption?
A: Liquidity providers like Raydium and staking services like Jito stand to gain as more SOL gets locked in the ecosystem.
Q: How are traditional companies like Classover participating?
A: Through treasury reserve programs that allocate portions of corporate cash to SOL purchases as strategic assets.