Solana’s first staking ETF sees strong debut with $33M volume – What’s next?

• The new drawing of ETF Solana is at the beginning of the blazing and attracts the volume of trading of $ 33 million.
• Is the spot market deep enough to handle what could come next?

Solan [SOL] Open H2 2025 with bull momentum, supported by not point ETF, but probably more attractive: yield.

Newly run Rex-Osprey Solana + Staking ETF (SSK) Drew in an impressive volume of $ 33 million on the first day, with shares closed to $ 25.85, which is 1.5% of its opening.

Under the hood of the SSK directly holds approximately 234,743 tokens Sol, which represents 55.02% of its portfolio. The fund actively sets these tokens within the Solana ecosystem to generate an annual yield of 7.3% for shareholders.

What is more impressive? The volume of the first trading of SSK today defeated the volumes of Sol and Wave [XRP] Futures etf. And it’s easy to understand why.

Source: TradingView (SSK/USD)

Unlike traditional spot products, SSK converts the influx of investors into a set Sol and generates a real return rather than just a price exposure. The more capital is drawn, the more it is and the more it pays off.

According to Ambcrypto, which creates a strong cycle: the influx of yield, the return attracts more investors, and these investors deepen the download fund and separate more than just a directional bet.

And yet the debut of $ 33 million compared to the billions of registered Bitcoin [BTC] and Ethereum [ETH] Spot ETF. This gap raises a deeper question: Can Solana on the basis of a market structure based on this level?

Solana attracts revenue and speculators seekers

As Ambrpto emphasizes, betting is a belief trade. Unlike the short -term Speculative capitalDetermination involves locking assets with the belief that the network will grow over time.

That’s what SSK makes interesting. It bet SOL and converts passive exposure to an active yield engine. But the catch is that these yields are paid in Sol. Therefore, if the price of Solana stagnates or falls, the actual value of these yields decreases.

And this risk is not hypothetical. Sol remains almost 50% below a high content of $ 294, and even after the SSK started, only 3.67% of the price lifting saw the token.

Source: TradingView (Sol/USDT)

This mute response shows the stunning power of the market on the spot and raises questions about whether the current income of standing can balance the drag valuation.

If the return cannot bring actual income modified by inflation, the debut of the SSK $ 33 million may signal speculative rotation rather than a real capital commitment. Generating volume, but not necessarily price mobility for Solan itself.