3 weeks ago
REX Shares announced successful a July 31 post that its REX-Osprey SOL + Staking ETF (SSK) volition marque its archetypal monthly organisation connected Aug. 1, paying $0.12169 per stock and passing done 100% of staking rewards.
With 5,075,000 shares outstanding, the inaugural payout totals astir $618,000. The issuer described the lawsuit arsenic the archetypal clip a US-listed ETF has distributed crypto staking rewards to shareholders, noting that the fund’s assets are actively staked and that distributions volition hap monthly.
The payout formalizes SSK’s plan arsenic a yield-bearing Solana conveyance successful a regulated wrapper, translating protocol rewards into currency flows that tin beryllium booked similar immoderate different ETF distribution.
The size of aboriginal payouts volition alteration with staking yields, portfolio positioning, and modular money mechanics.
As of July 30, third-party information amusement $135.3 cardinal successful nett inflows, according to Farside Investors’ data.
Context and scale
SSK launched connected July 2 and amassed implicit $100 cardinal successful assets nether management conscionable 12 trading days later. By design, SSK is the archetypal US-listed Solana ETF to incorporated on-chain staking rewards, giving investors vulnerability to SOL’s marketplace terms and its protocol output wrong an exchange-traded format.
However, the merchandise is not a modular SEC-registered spot ETF structure, arsenic SSK does not clasp spot Solana directly. Instead, it delivers SOL vulnerability chiefly done different vehicles.
Fund disclosures amusement a multi-line portfolio anchored by a presumption labeled “Solana” alongside a 42.3% vulnerability to the 21Shares Solana Staking ETP, positive a smaller sleeve successful “LSD Solana,” and a cash-like allocation to First American Government Obligations.
The debut organisation marks a milestone for staking’s integration into mainstream money plumbing.
For wealthiness managers, the pass-through attack provides a standardized mode to seizure SOL’s staking economics without gathering crypto infrastructure in-house. For the ETF market, SSK’s mechanics connection a template for however staking-enabled products tin brace output with terms vulnerability nether a US listing.
If capitalist involvement and inflows persist, SSK’s cadence of monthly distributions could go a bellwether for however protocol-level rewards construe into currency yields crossed crypto ETFs, shaping expectations for aboriginal staking-aware products tied to different networks.
The station REX Shares’ Solana ETF to payout implicit over $600k successful archetypal staking-based dividend connected Aug 1 appeared archetypal connected CryptoSlate.
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