INSUBCONTINENT EXCLUSIVE:
Key takeaways:The Solana ETF launch with staking drew initial excitement, but institutional demand remains muted.Ongoing SOL unlocks, DApp
confirmation that the first-ever Solana exchange-traded fund (ETF) featuring staking capabilities would launch on Wednesday
Source: TradingView / CointelegraphSOL initially rallied to $161, but adjusted to $157, a 4% gain from 24 hours prior
The ETF provider REX Shares partnered with Osprey Funds to establish a taxable C-corporation, bypassing the typical US Securities and
Exchange Commission approval process
This is unlike the standard Bitcoin (BTC) and Ether (ETH) spot ETFs available in the United States.This structure enables a much faster and
smoother launch, a path commonly used by energy infrastructure partnerships
However, it differs from standard cryptocurrency ETFs in terms of tax efficiency, as the REX-Osprey SOL + Staking ETF taxes dividend income
at both the corporate and investor levels.After some initial excitement, SOL traders recalibrated their expectations as they recognized that
similar instruments could be launched for nearly every altcoin
Grayscale Ethereum Trust (ETHE) held $10 billion in assets under management one month before the actual launch of the spot Ethereum ETF in
This substantial gap indicates that, regardless of staking capability, institutional demand is unlikely to have a significant impact on
According to DefiLlama, about $585 million worth of SOL will be unlocked from staking over the next two months.Additionally, some of
For example, the token launch platform Pump transferred over $404 million worth of SOL to exchanges in 2025 alone, as reported by Onchain
inherently bullish ETF news.SOL/USD (blue) vs
When there is excessive demand for bullish leverage, this indicator can jump above 10% per year
Conversely, during bearish periods, funding rates turn negative as short sellers pay to keep their positions open.SOL annualized funding
The current price of $157 remains 47% below the all-time high of $295, and onchain data indicates no recovery in network activity
Similarly, Coinbase partnered with Shopify on June 12 to introduce onchain payments on the Base network, which ultimately settles
transactions on the Ethereum base layer.At the moment, there is little evidence that the Solana ETF launch will drive a SOL rally to $200,
given increased competition and the lack of demand for currently listed Solana Trust instruments.This article is for general information
purposes and is not intended to be and should not be taken as legal or investment advice
