SSK, the Solana Staking Exchange Traded Fund (ETF) from Rex-Osprey, has exceeded $ 100 million in management (AUM) since its launch on July 2. The fund is the first ETF side in the United States to combine the exhibition in Solana (Sol) with Oscain awards.
While most FNB Crypto are recorded under the 1933 ACT Securities, which does not allow funds to distribute stimulation rewards, SSK is registered under the 1940 investment companies. This structure allows the fund to pay an ignition income such as dividends, important for investors who are looking for yield, not just speculation on prices.
According to the founder and CEO of REX-OPSPREY, Rex-Osprey Greg King, the growth of the ETF shows the demand of native blockchain investors in blockchain in familiar formats. In a press release, he said that SSK “opens the door to traditional investors to access Solana’s power to mark the FNB familiar FNB packaging”.
https://www.youtube.com/watch?v=dbyvwy_br7q
Sol has exchanged above $ 200 per room today and is up 25.3% in the last seven days, according to Coingecko data.
Addressing Cointelegraph, King said that Rex-Osprey aims to extend his ETF range to meet customer demand. “We have also deposited similar structured ETFs on XRP, Doge and ETH. And we look at a lot more cryptos beyond them.”
He says that the product “uses registered investment advisers (RIA) and others who wish both the exhibition to Solana and to receive monthly distributions in an entirely new way of the current ways to generate income”.
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Institutions turn to income
The SSK Solana Fund is part of a broader trend: institutional investors warm up on yields based on implementation as an alternative or in addition to traditional fixed income securities.
With the global interest rate set, the price of bitcoin gains the slowdown and regulatory clarity taking shape in the United States, asset managers turn to cryptographic yield strategies to increase yields.
In addition to the SSK, the platforms offering an Ethereum and US Treasury Tokenized Treasury have experienced regular institutional beneficiaries.
While the ETFs that have faced regulatory obstacles, SSK’s beginnings could create a precedent for future funds.
On June 13, Fidelity filed an S-1 recording with the Securities and Exchange Commission (SEC) of the United States for an ETF of Solana Spot, by joining other online asset managers for equal products, including 21Shares, Franklin Templeton, Grayscale, Bitwise and Canary Capital, according to analyst ETF James Seyffart.
Currently, none ETF (ETH) offers an onchain stretch, although this can change with clearer dry guidelines and, as fundraising, find compliant structures in regulatory frameworks.
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