REX-Osprey™ Launches First U.S. ETF with Solana Exposure plus Staking Rewards

Business Wire

02-07-2025

MIAMI--(BUSINESS WIRE)--REX-Osprey™, a strategic collaboration between REX Shares and Osprey Funds, today announced the launch of SSK, the REX-Osprey ™ Solana + Staking ETF, the first U.S.-listed ETF to give investors exposure to Solana (SOL) plus staking rewards in their securities brokerage accounts.
SSK provides investors with cost-effective and convenient exposure to Solana (SOL) by offering primarily spot SOL exposure—avoiding the negative effects of contango that can impact futures-based ETFs. In addition to this direct exposure, the fund also delivers the benefits of SOL staking, which currently offers a reward rate of 7.3%. The fund seeks to hold the majority of its assets in directly staked SOL, 40% of its assets in exchange-traded products that themselves stake SOL, and a small amount of its assets in liquid staking tokens like JitoSOL.) Importantly, all staking rewards received by the fund are passed directly to investors, with neither REX nor Osprey retaining any portion.
An investment in the Fund is not a direct investment in Solana. Investing involves significant risk, including the possible loss of principal.
"This is a major milestone for ETFs and the crypto industry, and a pioneering expansion in how securities investors can access crypto investments and blockchain-native returns," said Greg King, CEO of REX Financial. "With SSK, we're giving investors Solana staking rewards in a familiar ETF format—something that's never been done before in the U.S. market. We've essentially built a bridge between the world of TradFi securities investments and the world of crypto investments."
SSK is designed to serve both retail and institutional investors. Unlike other crypto products that rely on derivatives or just provide spot crypto exposure, SSK participates directly in native Solana staking, ensuring that rewards are sourced from the blockchain protocol itself, and SSK also participates indirectly in staking by holding exchange-traded products that themselves hold staked SOL. This allows investors to take part in Solana's network economics while maintaining the convenience and transparency of an ETF.
About REX-Osprey
REX-Osprey is a joint initiative between REX Financial, a leader in thematic and alternative ETFs, and Osprey Funds, a digital asset specialist focused on crypto access and infrastructure. Together, REX-Osprey develops products that combine the integrity of traditional financial structures with the transformative potential of blockchain technology.
Important Risks
An investor should carefully consider the Fund's investment objective, risks, charges, and expenses before investing. The Fund's prospectus and summary prospectus contain this and other information about REX Shares. To obtain the Fund's prospectus and summary prospectus, call 1-844-802-4004. The Fund's prospectus and summary prospectus should be read carefully before investing.
THE FUND, TRUST, ADVISER, AND SUB-ADVISER ARE NOT AFFILIATED WITH SOLANA OR ANY ENTITY PROVIDING VALIDATION OR STAKING SERVICES.
Crypto Asset Risk. The Fund holds SOL tokens, a crypto asset that is native to the Solana blockchain. Crypto assets are subject to extreme volatility, regulatory uncertainty, market manipulation, security risks, and technological changes. The value of the Fund will fluctuate with the price of SOL, which is influenced by a range of factors including adoption of the Solana network, network congestion, smart contract failures, validator misbehavior, and the emergence of competing platforms. Additionally, crypto asset exchanges and counterparties may be less regulated than traditional financial institutions, and are subject to fraud, hacking, and operational disruptions.
SOL Risk. The Fund's investments in SOL (the Reference Asset) and SOL futures contracts expose the Fund to the risks associated with an investment in SOL because the price of these derivatives is substantially based on the price of SOL. SOL is a relatively new innovation and is subject to unique and substantial risks. The market for SOL is subject to rapid price swings, changes and uncertainty.
Staking Risk. When the Fund stakes the Reference Asset, the Reference Asset is subject to the risks attendant to staking generally. Staking requires that the Fund lock up the staked Reference Asset for the period of time required by the staking protocol, meaning that the Fund cannot sell or transfer the staked Reference Asset, thereby making it illiquid for the period it is being staked. In addition, during the lock-up period, the Fund is subject to the market price volatility of the Reference Asset, and it may miss opportunities to sell the staked Reference Asset during opportune times. During the unstaking period, the Fund may miss out on earning opportunities because, in some cases, the staked Reference Asset may not earn rewards during the unstaking period or may only earn rewards during part of the unstaking period. Staked Reference Assets are also subject to security breaches, network downtime or attacks, smart contract vulnerabilities, and validator or custodian failure or compromise, which can result in a complete loss of the staked Reference Asset or a loss of any rewards.
Concentration Risk. The Fund's assets will be concentrated in the sector or sectors or industry or group of industries that are assigned to the Reference Asset, which will subject the Fund to the risk that economic, political or other conditions that have a negative effect on those sectors and/or industries may negatively impact the Fund to a greater extent than if the Fund's assets were invested in a wider variety of sectors or industries.
Liquidity Risk. The Fund may not be able to sell its crypto assets at the time or price it desires. Crypto asset markets may be less liquid than traditional securities markets and may be subject to significant price fluctuations.
New Fund Risk. The Fund is a newly organized investment company with no operating history. Investors have limited performance history to assess how the Fund will perform.
Counterparty Risk. The Fund may rely on staking infrastructure providers, custodians, and crypto exchanges to hold or interact with its SOL. These third parties may become insolvent, fail to safeguard assets, or be subject to regulatory action, leading to potential losses.
Smart Contract Risk. Certain staking activities or custodial processes may rely on smart contracts. These self-executing code structures are susceptible to bugs, hacking, or unintended behavior. Exploits in smart contracts could cause loss of assets or incorrect reward distribution.
Contango is when futures contracts trade at progressively higher prices the further out in time they are set to expire.
Staking Rewards are the incentives or payments earned by participants who commit (or "stake") their cryptocurrency tokens to help support the operations and security of a blockchain network, typically one that uses a Proof-of-Stake.
Distributor: Foreside Fund Services, LLC, member FINRA, not affiliated with REX Shares, Osprey Funds, or the Fund's investment adviser.