Solana Declines Nearly 8% Ahead of U.S. Debut of First SOL Staking ETF
Solana’s price took a sharp hit on Tuesday, sliding close to 8% despite anticipation building around the first U.S.-listed ETF that will let investors earn staking rewards tied to the SOL token.
Over the past 24 hours, SOL dropped by 7.84%, trading at $145.08 as of 20:03 UTC on July 1, 2025, according to technical data from CoinDesk Research. By comparison, the wider crypto market, as tracked by the CoinDesk 20 Index, dipped only 0.24% in the same timeframe.
The price slump comes right before a major milestone for Solana: the launch of the REX-Osprey SOL + Staking ETF.
Scheduled for release on July 2, the REX-Osprey SOL + Staking ETF (ticker: SSK) will be the first U.S. exchange-traded fund offering investors direct exposure to Solana while enabling them to collect staking rewards. Unlike standard crypto ETFs that track price alone, this product allows holders to benefit from returns generated through Solana’s proof-of-stake mechanism.
Roughly 80% of the fund’s assets will be allocated to SOL, with around half of that portion actively staked. The fund is structured under the Investment Company Act of 1940, which is known for offering greater investor protection and potentially smoother regulatory approval than the older 1933 Act. Analysts believe this could encourage institutional investors to participate more confidently.
Experts view the ETF as a significant step forward for Solana’s profile in U.S. markets, offering a product that merges yield opportunities with asset exposure. Many believe this innovation could support long-term adoption, particularly as other asset managers—including Grayscale, VanEck, and Bitwise—plan similar Solana ETFs.
Despite optimism surrounding the ETF, SOL faced selling pressure on Monday, highlighting cautious sentiment ahead of the new product’s debut.
Key Technical Insights:
- Over the past day, SOL declined by $12.34, dropping from $157.42 to $145.08, representing a 7.84% fall within a $12.34 trading range.
- The session saw strong resistance at $157.42 early on, fueling ongoing selling momentum.
- Trading volume peaked during the 06:00 UTC hour, reaching over 1.57 million SOL, as the price struggled near $151.50.
- A support zone appeared around $146.55 during the 14:00 UTC hour, paired with heightened buying activity suggesting accumulation interest.
- In the session’s final hour, SOL slipped further from $146.31 to $145.08, hitting the day’s lowest price.
- Throughout the day, SOL’s price action formed a descending channel characterized by a series of lower highs and lower lows.
