First US staked crypto ETF launches, offering Solana and yield, potentially sparking "altcoin summer"

From Cointelegraph. June 30, 2025 3:24 pm:

The first US staked cryptocurrency ETF will launch on Wednesday, allowing investors to hold Solana (SOL) and earn yield through staking. The REX-Osprey Solana and Staking ETF will give investors direct exposure to spot SOL along with staking income, potentially paving the way for broader institutional adoption of crypto.

The SEC gave positive feedback on REX’s unique C-Corp business structure, allowing the launch of the Solana ETF. SOL price rose 6% to around $158 after the news, bringing it up over 12% in the past week. Despite the rally, SOL is still 46% below its all-time high from January.

Solana now has a market capitalization of $83.5 billion, making it the sixth-largest cryptocurrency. Analysts speculate that the approval of Solana ETFs could spark an “altcoin summer” fueled by new altcoin-focused funds. Several altcoin ETFs are on track for approval by July, with Solana leading the way.

Solana has gained momentum in the DEX market, with its volumes surpassing Ethereum’s. Raydium, Pump.fun, and Orca have been major contributors to this surge. US crypto ETF approval odds have surged to ‘90% or higher,’ according to Bloomberg analysts.

Read more at Cointelegraph: First US Staked Crypto ETF Launches, Offering Solana and Yield