REX-Osprey’s Solana staking ETF to pass on 100% of rewards to shareholders as it integrates JitoSOL

REX-Osprey’s Solana staking exchange-traded fund has integrated staking rewards through a partnership with JitoSOL, the leading liquid staking token on Solana. This makes it the first and only crypto ETF to offer staking rewards to U.S. investors, according to an announcement on Thursday. 

According to the announcement, 100% of the fund’s staking rewards will be “passed through to shareholders, with neither REX nor Osprey retaining any portion.”

The REX-Osprey Solana + Staking ETF went live on July 2 as the first approved fund to stake its assets. The fund has accrued at least $222 million in cumulative trading volume and over $100 million in net assets under management since its debut, according to The Block Research. 

“Now by integrating the capability for liquid staking through JitoSOL, we’re enhancing liquidity while continuing to deliver native Solana rewards within a U.S. ETF structure,” Greg King, CEO of REX Financial & Osprey Funds, said in a statement.

JitoSOL, a liquid staking token, is a tokenized version of staked SOL that enables users to continue trading the value of their staked assets while still earning on-chain rewards. There is approximately $3 billion worth of JitoSOL in circulation, according to The Block’s data.

The U.S. Securities and Exchange Commission has clarified that it does not believe most staking activities fall under its remit. However, the agency has been hesitant to approve staking ETFs. REX-Osprey’s fund was approved under a more stringent regulatory model called the Investment Company Act of 1940, which requires a qualified custodian to hold the assets. 

REX-Osprey tapped Anchorage Digital as its custodian and staking partner. Staking represents an increasingly fast-growing part of crypto custodians like Anchorage and BitGo’s business model. 

“JitoSOL becoming the first liquid staking token included in a U.S. ETF is a landmark moment — not just for Jito, but for the future of staked assets in traditional financial products," Thomas Uhm, Jito Foundation chief commercial officer, said in a statement.

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