Solana Jumps Ahead of First SOL ETF Hitting the Market This Week

Solana

jumped about 5% Monday morning amid rumors {that a} SOL Staking exchange-trade fund (ETF) by Rex Shares and Osprey Funds may begin buying and selling on the market as quickly as Wednesday.

The token later fell again barely, now buying and selling up about 2.3% over the previous 24 hours at $157 at press time.

A spokesperson for Osprey confirmed to CoinDesk that the “fund will launch Wednesday,” following a put up on X by the automated headline account “Unfolded.”

Just final week, Rex filed a letter with the Securities and Exchange Commission (SEC) asking whether or not feedback had been resolved for his or her submitting. Later that day, the asset supervisor posted on X that the ETF was “coming soon,” suggesting that the SEC had no additional feedback.

The REX-Osprey SOL+Staking ETF can be the first of its variety in the U.S. Several issuers are nonetheless awaiting approval for a spot SOL ETF which might probably additionally embrace staking capabilities.