1 week ago
REX Osprey Solana (SOL) exchange-traded money (ETF) recorded zero trading enactment connected 4 of six trading days done August 8, according to Farside Investors data.
Trading nether ticker SSK, the money posted nary flows connected Aug. 1, Aug. 4, Aug. 5, and Aug. 7, with minimal $6.4 cardinal successful enactment connected Aug. 8 and $2.7 cardinal outflows connected Aug. 6.
REX Osprey’s money is the archetypal US-listed Solana ETF to integrate autochthonal staking mechanisms. The merchandise operates extracurricular modular SEC-registered spot ETF frameworks, delivering SOL vulnerability done indirect vehicles alternatively than nonstop crypto holdings.
Institutional hesitation
CoinShares flow data showed Solana products attracted $874 million successful year-to-date inflows, staying down Ethereum (ETH) and XRP among large headdress altcoins contempt its presumption arsenic the fourth-largest cryptocurrency by marketplace capitalization.
The trading signifier could bespeak broader organization hesitation toward Solana-focused concern products compared to Bitcoin (BTC) and Ethereum alternatives.
Nansen elder probe expert Jake Kennis attributed the disparity to organization portfolio allocation strategies. He explained successful a note:
“ETH is seeing a batch of caller enactment arsenic institutions were apt underweight ETH comparative to BTC. Solana has been mostly successful the backseat for this caller question of attention, but SOL ETFs would apt prime up if institutions are looking to besides diversify distant from BTC and ETH.”
Structural complexity creates adoption barriers
The REX Osprey fund’s plan incorporates staking mechanisms and offshore ETF allocations that differentiate it from accepted spot cryptocurrency products.
Stabolut laminitis and CEO Eneko Knörr identified these features arsenic adoption obstacles alternatively than request deficiencies.
Knörr said:
“SSK’s quiescent portion looks much similar a marque and organisation contented than a axenic request problem. Its plan isn’t a elemental ‘spot SOL successful a wrapper’—the money stakes SOL and tin allocate a information into different SOL ETFs/ETPs, galore offshore, which adds complexity that immoderate buyers shy distant from.”
The money charges a 0.75% absorption fee, positioning it astatine the higher extremity of cryptocurrency ETF disbursal ratios. Traditional spot Bitcoin and Ethereum ETFs from large issuers typically transportation fees betwixt 0.15% and 0.25%.
Kennis, from Nansen, noted that the interest operation creates a cost-benefit investigation for organization investors weighing nonstop cryptocurrency vulnerability against ETF convenience.
He referenced Solana’s astir 7% yearly staking rewards:
“The staking constituent seems similar a large diagnostic fixed the ‘passive’ output being near connected the table.”
Market positioning and aboriginal outlook
The lack of large fiscal institutions similar BlackRock and Fidelity successful the Solana ETF abstraction contributes to constricted marketplace penetration.
REX Shares operates arsenic a smaller ETF issuer without the organisation networks and marque designation of Wall Street’s largest plus managers.
Knörr argued:
“Early trading volition apt stay lumpy until bigger brands participate the space. Structure, complexity, and constricted support abstraction are holding it back—interest successful Solana vulnerability itself doesn’t look to beryllium the issue.”
As of Aug. 11, the US Securities and Exchange Commission (SEC) is inactive considering the support of Solana ETFs nether the much tax-friendly 1933 Act.
The station REX Osprey Solana ETF posts zero nett flows crossed bulk of August sessions appeared archetypal connected CryptoSlate.
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