Solana Slides Under $146 Despite Looming Launch of U.S.-Listed Staking ETF

Solana Slides Nearly 8% Despite Excitement Over First U.S. Staking ETF Launch

Solana’s price dropped close to 8% on Tuesday, even as investors look forward to the launch of the first U.S.-listed ETF offering staking rewards tied to the SOL token.

Over the past 24 hours, SOL fell by 7.84%, trading at $145.08 as of 20:03 UTC on July 1, 2025, based on CoinDesk Research’s technical analysis. In contrast, the wider crypto market, represented by the CoinDesk 20 Index, dipped only 0.24% in the same period.

The decline comes right before a significant event for Solana: the debut of the REX-Osprey SOL + Staking ETF.

Set to launch on July 2, the REX-Osprey SOL + Staking ETF (ticker symbol SSK) will be the first exchange-traded fund in the U.S. to provide direct exposure to Solana’s native token while allowing investors to earn staking rewards. Unlike traditional crypto ETFs that merely follow price changes, this fund gives investors a chance to benefit from Solana’s proof-of-stake yield generation.

About 80% of the ETF’s assets will be invested in SOL, with roughly half of that stake actively participating in staking. The ETF is structured under the Investment Company Act of 1940, known for offering stronger investor protections and potentially smoother regulatory pathways than older frameworks like the 1933 Act. Analysts believe this could attract more institutional interest and broaden adoption.

Industry watchers see the ETF as a crucial step in boosting Solana’s credibility among U.S. financial institutions. By blending yield generation with token exposure, the product offers a more complete investment approach than standard spot ETFs. Observers suggest it could spur longer-term interest, especially as other asset managers—including Grayscale, VanEck, and Bitwise—prepare their own Solana-based products.

Nevertheless, despite the buzz around the new ETF, SOL faced considerable selling pressure on Monday, underscoring lingering investor caution ahead of the product’s rollout.

Technical Analysis Highlights:

• SOL declined $12.34 in the past day, dropping from $157.42 to $145.08—a 7.84% decrease within a $12.34 trading range.
• Early in the session, SOL hit resistance at $157.42, prompting persistent selling.
• The highest trading activity was recorded at 06:00 UTC, with over 1.57 million SOL changing hands as prices stalled near $151.50.
• Support formed near $146.55 at around 14:00 UTC, accompanied by increased buying volume, suggesting some traders were accumulating at lower levels.
• In the last hour of trading, SOL fell further from $146.31 to $145.08, marking the session’s low.
• Throughout the day, price action carved out a descending channel, characterized by lower highs and lower lows.