First Solana ETF to Hit the Market This Week; SOL Price Jumps 5%

Solana SOL jumped astir 5% Monday greeting amid rumors that a SOL Staking exchange-trade money (ETF) by Rex Shares and Osprey Funds could commencement trading connected the marketplace arsenic soon arsenic Wednesday.

The token aboriginal fell backmost slightly, present trading up astir 2.3% implicit the past 24 hours astatine $157 astatine property time.

A spokesperson for Osprey confirmed to CoinDesk that the "fund volition motorboat Wednesday," following a post connected X by the automated header relationship "Unfolded."

Just past week, Rex filed a letter with the Securities and Exchange Commission (SEC) asking whether comments had been resolved for their filing. Later that day, the plus manager posted connected X that the ETF was “coming soon,” suggesting that the SEC had nary further comments.

The REX-Osprey SOL+Staking ETF would beryllium the archetypal of its benignant successful the U.S. Several issuers are inactive awaiting support for a spot SOL ETF which would apt besides see staking capabilities.