First SOL ETF Drives Solana Price Up

First Solana ETF Fuels Price Surge

Solana (SOL) experienced a price jump of approximately 5% on Monday morning, fueled by anticipation surrounding the imminent launch of a SOL staking exchange-traded fund (ETF). This ETF, a collaborative effort between Rex Shares and Osprey Funds, is expected to begin trading as early as Wednesday.

While the price later saw a slight correction, SOL remains up roughly 2.3% in the past 24 hours, trading at $157 at the time of writing.

Osprey Funds confirmed to CoinDesk that the fund will indeed launch on Wednesday, corroborating earlier reports on X (formerly Twitter).

Regulatory Approval and Market Impact

Last week, Rex Shares submitted a letter to the Securities and Exchange Commission (SEC), inquiring about the status of their filing. The subsequent announcement of the ETF's imminent launch suggests the SEC had no further comments, clearing the path for this groundbreaking development.

This REX-Osprey SOL+Staking ETF marks a significant milestone, being the first of its kind in the U.S. Several other issuers are awaiting SEC approval for spot SOL ETFs, which are also likely to incorporate staking capabilities.

Codeum: Your Partner in Blockchain Security

The increasing adoption of crypto assets like Solana highlights the growing need for robust blockchain security. Codeum offers comprehensive services to ensure the safety and integrity of your blockchain projects. Our services include:

• Smart contract audits
• KYC verification
• Custom smart contract and DApp development
• Tokenomics and security consultation
• Partnerships with launchpads and crypto agencies

Contact Codeum today to learn how we can help secure your blockchain future.