Solana surges above $160 as Rex-Osprey ETF and Robinhood staking boost prices
SOL market prices went vertical, breaking above $160, on news of the imminent launch of the Rex-Osprey Solana ETF with staking. Robinhood gave an additional boost to SOL after bringing back staking for passive income, now accessible for US-based clients.
Solana is gaining attention again, leading the price to break above $160 within minutes. SOL was driven by the recent news of launching the Rex-Osprey Solana ETF with staking as early as Wednesday. The ETF may see approval just weeks after its most recent delay by the US SEC.
While the ETF launch was predicted to happen this week by Bloomberg analyst James Seyffart, the official confirmation by Rex Shares helped spark the near-vertical market rally.
Coming Wednesday: The First-Ever Staked Crypto ETF in the U.S.!
Introducing the REX-Osprey™ SOL Staking ETF, designed to track the performance of Solana while generating yield through on-chain staking.
✔️ SOL exposure
✔️ Staking rewardsA new era of yield-generating… pic.twitter.com/YwJaqdmnHp
— REX Shares (@REXShares) June 30, 2025
The Rex-Osprey ETF was returned for another revision by regulators, which was an expected process for other ETFs. The new investment vehicle is the first of its kind for the US market, as it opens the door to SOL staking for mainstream investors.
The Solana ETF had approval odds above 95%. On Polymarket, the odds of approving the ETF rose to 91% for a launch by the end of July, and to 98% for the whole of 2025.
Robinhood brings back SOL staking for US users
Robinhood announced a new round of expansion for its crypto services. Based on consumer demand, the platform offered staking for both SOL and ETH, now accessible to US customers.
You’ve been asking for this.$ETH and $SOL staking are now available to U.S. customers.#RobinhoodPresents https://t.co/g2tVe85G4W pic.twitter.com/AaJaPCLbpv
— Robinhood (@RobinhoodApp) June 30, 2025
SOL staking returned after Robinhood delisted the asset in 2023, following a verdict on offering an unregistered security. SOL returned to the platform at the end of 2024, in time for one of its bigger bull runs.
The staking option arrived just days after the app also announced SOL options trading. The staking may bring up to 7.42% in passive returns, within the usual range of 6% to 11%. The addition of staking to more mainstream products may also open the door to ETH-based products, where the ETH is locked in the Beacon Chain smart contract and participates in generating block rewards.
As more SOL is consolidated in whale wallets, simple staking or liquid staking is becoming more attractive.
SOL markets liquidate $11M
The sudden SOL rally led to large liquidations, with $11M in liquidated positions within a four-hour frame.
SOL was the only major asset to liquidate short positions. Currently, around 33% of SOL open interest is in remaining short positions. Overall open interest increased over the weekend, rising rapidly to over $3.9B.
Over the past few days, the possibility of an ETF approval set expectations for an even bigger price breakout. Despite this, traders still picked short positions in case SOL faced additional price pressure.
The bullish scenario for ETF launches envisions SOL rallying above $200 and as high as $300. The recent price breakout follows a month-long price slide, as the asset prepares to close the month with minimal net gains.
SOL still expanded during Q2, adding a net 25.9%. The Solana ecosystem once again drew attention with the next wave of meme tokens, as well as the gradual expansion of lending. The network is also attractive for hosting fee-generating apps and being one of the venues with the highest on-chain economic activity.
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