First Bitcoin, then Ethereum, and now Solana. The crypto industry is flooding traditional markets with assets pegged to cryptocurrencies that mom-and-pop investors can buy up from their brokerage accounts. On Wednesday morning, the first Solana exchange-traded fund, or ETF, went live on Cboe BZX, a stock exchange based in Chicago.
Dubbed the REX-Osprey SOL and Staking ETF, the fund is available to investors who want exposure to Solana, one of the top cryptocurrencies whose market capitalization is about $81 billion, according to data from Binance. In addition to tracking the price of Solana, the fund, managed jointly by REX Financial and its sister firm Osprey Funds, also pays holders a variable monthly dividend whose current rate is 7.3%
