Asia Market Update: Solana Rises 4% Amid Positive Analyst Reviews of SSK Staking ETF Launch

SSK Solana Staking ETF Launch Sees Impressive Start, Marking Progress in Crypto’s Institutional Adoption

The REX-Osprey Solana + Staking ETF (SSK), the first-ever crypto staking ETF listed in the U.S., made a strong debut with $33 million in trading volume on its first day, according to Bloomberg ETF analyst Eric Balchunas. In a post on X, Balchunas highlighted that SSK’s launch volume surpassed the typical ETF debut, and significantly outperformed previous launches of Solana and XRP futures ETFs.

SSK gives investors access to Solana (SOL) while also enabling them to earn staking rewards, removing the complexity of managing crypto staking themselves. By offering indirect exposure to staking in a regulated format, the ETF makes it easier for traditional investors to participate in the Solana ecosystem.

The launch follows a significant decision by the U.S. Securities and Exchange Commission (SEC) in late May, confirming that crypto staking does not breach securities laws—paving the way for funds like SSK to enter the market.

In the wake of the ETF’s successful start, Solana’s price rose 4%, climbing above $150, based on CoinDesk’s data.

At present, no Ethereum staking ETFs exist in the U.S., though Canadian asset manager 3iQ offers one on the Toronto Stock Exchange. Meanwhile, Hong Kong’s SFC released crypto staking rules in April, allowing issuers to launch ETH staking ETFs on local exchanges.

BlackRock’s Bitcoin ETF Surpasses Flagship S&P 500 Fund in Annual Revenue

Separately, BlackRock’s iShares Bitcoin ETF (IBIT) has overtaken the firm’s iconic iShares Core S&P 500 ETF (IVV) in terms of yearly revenue, according to data from Presto Research.

Although IBIT manages $75 billion in assets—a fraction of IVV’s massive $624 billion—its 0.25% fee generates around $187.2 million annually. In contrast, IVV’s ultra-low 0.03% fee results in slightly less total revenue despite its far larger asset base.

“IBIT charges fees that are 8.3 times higher than IVV,” noted Presto, explaining that investors are willing to pay more for regulated crypto exposure—a sign of growing institutional interest in digital assets.

The research also pointed out that, unlike the highly commoditized S&P 500 ETF market, crypto ETFs like IBIT still command premium pricing, largely because of the trust in BlackRock’s brand, which offers institutions reassurance when stepping into crypto investments.

With IBIT leading inflows among Bitcoin ETFs, Presto emphasized that the age of institutional crypto adoption is no longer in the future—it has arrived.

Market Overview – July 3, 2025

• Bitcoin (BTC):
  BTC advanced 3.6%, trading above $109,000, supported by increased trading activity and new support levels between $109,064–$109,359. The market was buoyed by optimism over the U.S.-Vietnam trade deal, despite ongoing tensions in the Middle East.
• Ethereum (ETH):
  ETH surged 8.6% to $2,608, driven by institutional interest and high trading volumes. Strong support formed at $2,565, while resistance is seen near $2,617.
• Gold:
  HSBC raised its forecasts for gold prices in 2025 and 2026 to $3,215 and $3,125 per ounce, respectively, citing persistent geopolitical uncertainty and continued investor demand.
• Nikkei 225:
  The Nikkei 225 index dipped 0.15%, reflecting mixed sentiment in Asia-Pacific markets as investors waited for further details on the U.S.-Vietnam trade accord.
• S&P 500:
  The S&P 500 gained 0.47%, closing at 6,227.42, boosted by hopes around the new trade agreement. However, an unexpected decline in June private payrolls renewed concerns about the U.S. economy’s strength.

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