REX-Osprey Launches First US Solana + Staking ETF, Powered by CF Benchmarks

Another inflection point: on-chain staking rewards meet U.S. ETF access

Meet REX-Osprey's SSK, powered by CFB

The U.S. ETF landscape marks a transformative milestone with the launch of the REX-Osprey Solana + Staking ETF (SSK)—the first ETF to deliver spot Solana (SOL) exposure alongside direct, on-chain staking rewards in a regulated investment vehicle. SSK enables both institutional and sophisticated retail investors to access protocol-native Solana yield within the familiar infrastructure of U.S. securities markets, while leveraging CF Benchmarks’ CME CF Solana-Dollar Reference Rate – New York Variant (SOLUSD_NY) as its robust, manipulation-resistant pricing source.

Institutional-grade access to Solana and native staking yield

First of its Kind: SSK is the first U.S.-listed ETF to provide both spot SOL exposure and on-chain staking rewards, bridging the worlds of blockchain protocol participation and regulated TradFi products.
Direct Protocol Participation: All SOL held by the fund is staked directly on-chain, with rewards distributed as monthly cash payouts—no derivatives, no synthetic exposures, no manager take.
Benchmarked to the Highest Standard: Fund performance is anchored to the CME CF Solana-Dollar Reference Rate – New York Variant (SOLUSD_NY), delivering institutional-grade transparency, replicability, and price integrity.

Key features and differentiators

Regulated access, native yield: SSK offers a regulated path to Solana’s 7–9% protocol-native staking yield, eliminating technical barriers and counterparty risks for ETF investors.
Transparent and secure: Staking operations are fully on-chain, utilizing institutional-grade custody with Anchorage Digital and trusted validators such as Figment and Galaxy.
No contango, tight tracking: Unlike futures-based SOL products, SSK maintains tight tracking to spot Solana because of SSK's use of the SOLUSD_NY index for net asset value (NAV) calculation, minimizing slippage and structural inefficiencies.
Monthly payouts, no reward dilution: 100% of staking rewards accrue to shareholders; REX-Osprey does not retain any portion of rewards.
Familiar investment structure: SSK trades on U.S. exchanges, designed for RIAs, institutional allocators, and professional investors seeking digital asset yield with regulatory clarity.

Use cases and real-world scenarios

Institutional treasury management: Portfolio managers seeking compliant, high-yield crypto exposure within standard brokerage accounts—no wallets or direct blockchain management required.
Product structuring: ETF issuers and asset managers aiming to launch or white-label digital asset strategies backed by robust reference rates and operational transparency.
Advisory solutions: Wealth managers and RIAs supporting clients’ crypto allocations with direct protocol exposure, yield optimization, and robust risk controls.

Useful data and key milestones

7.3% current staking reward rate: All fund-held SOL will be actively staked on-chain, passing through the protocol yield to investors. The approximate 7.3% staking reward rate is correct at the time of publication.
First U.S. ETF of its kind: No U.S.-listed ETF has previously combined spot SOL and on-chain staking rewards in this structure.
Anchored by trusted benchmark: Pricing and performance are derived from the CME CF Solana-Dollar Reference Rate – New York Variant (SOLUSD_NY), ensuring robust index governance and resistance to market manipulation.

Conclusion

The REX-Osprey Solana + Staking ETF (SSK) represents a significant advancement in digital asset investment products, offering the first U.S.-listed ETF to combine spot Solana exposure with protocol-native staking rewards. Benchmarked to CF Benchmarks’ CME CF Solana-Dollar Reference Rate – New York Variant (SOLUSD_NY), SSK enables institutional and professional investors to access secure, regulated Solana staking yield through a familiar ETF structure, with all rewards passed directly to shareholders.

This launch establishes a new standard for blockchain-native yield delivery in traditional financial markets, setting a foundation for further integration of digital asset innovations within regulated investment vehicles.

More information

Click the links below to find out more about the REX-Osprey Solana + Staking ETF (SKK) and the CME CF Solana-Dollar Reference Rate - New York Variant (SOLUSD_NY).