Let's talk about the first staking ETF product for $SOL. The first Solana staking exchange-traded fund (ETF) in the U.S. attracted $12 million in inflows by the end of its first trading day. According to Bloomberg ETF analyst Eric Balchunas, The REX-Osprey Solana Staking ETF debuted on the Cboe BZX exchange on Wednesday, with a trading volume of $33 million and inflows of $12 million. Notably, SSK differs significantly from traditional ETFs, which are still awaiting SEC approval. What are the specific differences? SSK primarily helps users invest in Solana ($SOL) and earn staking rewards, operating under a legal framework known as the 1940 Act. You can think of it as a full-service manager. This manager (fund manager) is highly professional and is under the strictest regulation by the U.S. Securities and Exchange Commission (SEC), reporting daily on what it buys and sells, ensuring high transparency. The SEC is very comfortable with this model, so it was approved quickly. It will distribute the interest earned from staking directly to you in cash every month, just like a salary. However, due to the high-quality service and strict regulation, the management fee is very expensive (1.40%), making it the most expensive ETF currently available. Traditional staking ETFs add a "staking interest" feature on top of existing spot ETFs. But this idea has been put on hold by the SEC, which operates under the 1933 Act legal framework. You can think of it as a bank safe deposit box, whose main function is to "safeguard" assets (like gold, Bitcoin, Ethereum) without generating any business activity. The SEC believes that staking is not just safekeeping but a form of business activity. It's like your safe deposit box suddenly starts making money on its own. This exceeds the original definition of a "safe deposit box," and the SEC needs to re-evaluate the risks and establish new rules, which is why it has not approved it yet. Even if it does get approved, it is likely that the interest earned will be reinvested (compound interest), or you may be given the option to choose between cash or continued investment.