Despite Upcoming U.S. SOL Staking ETF, Solana Slips Below $146

Solana Slides Nearly 8% Despite Imminent Launch of First U.S. Staking ETF

Solana saw its price tumble by almost 8% on Tuesday, even as anticipation builds around the launch of the first U.S.-listed ETF to offer staking rewards for SOL holders.

Over the last 24 hours, SOL declined by 7.84%, trading at $145.08 as of 20:03 UTC on July 1, 2025, according to CoinDesk Research’s technical analysis. By comparison, the broader crypto market, as tracked by the CoinDesk 20 Index, slipped only 0.24% during the same period.

The drop comes just ahead of a key development for Solana’s ecosystem: the debut of the REX-Osprey SOL + Staking ETF.

Set to launch on July 2, 2025, the REX-Osprey SOL + Staking ETF (ticker: SSK) is set to become the first exchange-traded fund listed in the U.S. to provide investors with direct exposure to Solana’s native token while also enabling participation in staking rewards. Unlike traditional crypto ETFs that merely track token prices, this fund allows investors to benefit from Solana’s proof-of-stake earnings.

The ETF plans to allocate roughly 80% of its assets to SOL, with about half of those tokens actively staked. It will operate under the Investment Company Act of 1940, which is considered to offer stronger investor protections and could smooth regulatory approvals. This structure is expected to boost institutional confidence and potentially drive broader adoption.

Industry observers see the ETF as a significant milestone in strengthening Solana’s standing among U.S. financial institutions. By offering both yield opportunities and direct asset exposure, it delivers a more diverse investment option compared to standard spot ETFs. Experts believe this innovation could spark long-term growth, especially as firms like Grayscale, VanEck, and Bitwise pursue their own Solana-focused ETFs.

Despite optimism around the ETF launch, SOL faced significant selling pressure on Monday, indicating that investors are exercising caution ahead of this new product’s debut.

Technical Analysis Details:

SOL dropped by $12.34 over the past 24 hours, moving from $157.42 to $145.08—a decline of 7.84% within a $12.34 trading range.
The price faced strong resistance at $157.42 early in the session, triggering persistent selling.
The highest trading volume appeared during the 06:00 UTC hour, surpassing 1.57 million SOL, as prices were rejected near $151.50.
A support level emerged around $146.55 during the 14:00 UTC hour, paired with increased buying volume, suggesting accumulation interest.
In the final hour of trading, SOL slipped further from $146.31 to a session low of $145.08.
Price movements throughout the day formed a descending channel, characterized by a series of lower highs and lower lows.