SOL Rises 4% Following Strong Launch of Staking ETF (SSK)
Market News Summary
The first U.S. crypto staking ETF, REX-Osprey Solana + Staking ETF (SSK), launched with a trading volume of $33 million. Key points include:
- Provides indirect access to Solana and staking rewards without technical knowledge.
- Volume outperformed recent Solana futures ETFs.
- SOL price increased by approximately 4%, trading above $150.
- SEC ruling confirms that crypto staking does not violate securities laws.
- No U.S. ETH staking ETF available; alternatives exist in Hong Kong.
BlackRock’s Bitcoin ETF Performance
BlackRock’s iShares Bitcoin ETF (IBIT) now generates more revenue than its flagship S&P 500 fund (IVV). Highlights include:
- IBIT has $75 billion in assets, expected to generate $187.2 million annually from a 0.25% fee.
- IVV holds $624 billion, yielding less due to a 0.03% fee.
- Investor preference for higher fees reflects institutional demand for crypto exposure.
- IBIT captures significant Bitcoin ETF market inflows, showcasing crypto's institutional adoption.
Market Movements
- BTC: Increased by 3.6% to over $109,000, supported by strong volume and positive global sentiment.
- ETH: Rose 8.6% to $2,608, driven by institutional interest and bullish momentum.
- Gold: HSBC raised gold price forecasts to $3,215 and $3,125 per ounce for 2025–2026.
- Nikkei 225: Down 0.15%, as investors await details on the U.S.-Vietnam trade deal.
- S&P 500: Increased by 0.47% to 6,227.42 amid economic concerns following payroll data.