SOL Rises 4% as Analysts Highlight Strong Launch of Staking ETF (SSK)

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see RialCenter’s Crypto Daybook Americas.

The newly launched REX-Osprey Solana + Staking ETF (SSK), the first crypto staking exchange-traded fund (ETF) listed in the U.S., ended the day with $33 million in volume, with an analyst noting the launch was better than the average ETF listing.

The ETF offers investors indirect access to Solana while earning staking rewards without needing technical expertise.

While the volume was much lower than the launch of BTC and ETH ETFs, the trading volume was much stronger than recent Solana futures ETF listings or XRP futures ETF launches.

SOL is trading above $150 on the news, up roughly 4%, according to RialCenter market data.

In late May, the Securities and Exchange Commission ruled that crypto staking does not violate securities laws, paving the way for issuers to offer such staking products.

There’s no ETH staking ETF currently offered in the U.S., although a provider offers one on the Toronto Stock Exchange.

Market regulator released staking rules in April, and local issuers offer ETH staking ETFs on the city’s stock exchange.

BlackRock’s Bitcoin ETF Now Out-Earns Its Flagship S&P 500 Fund

BlackRock’s iShares Bitcoin ETF (IBIT) is now generating more annual revenue than its flagship iShares Core S&P 500 ETF (IVV), according to a new report.

IBIT, with $75 billion in assets under management, is expected to bring in $187.2 million a year from its 0.25% fee. IVV, in contrast, holds $624 billion but charges just 0.03%, yielding slightly less in absolute revenue.

The difference isn’t just a quirk of fee structures—it’s indicative of how institutional investors view crypto exposure in 2025. “IBIT’s fees are 8.3 times higher than IVV’s,” the report notes, “but investors are paying up.”

As Presto points out, even Coinbase’s base spot trading fee is higher, at 60 bps.

IBIT’s growth story highlights the power of brand. Institutions want Bitcoin—but they want it with a trusted name on the label. While S&P 500 ETFs have become commoditized, crypto ETFs still command premium pricing.

With IBIT holding the lion’s share of Bitcoin ETF market inflows, it’s increasingly clear: the institutionalization of crypto is already happening.

Market Movements:

BTC: Bitcoin surged 3.6% over 24 hours to break above $109,000, buoyed by strong volume, new support between $109,064–$109,359, and improving global sentiment following a key trade deal despite continued tensions.

ETH: ETH surged 8.6% to $2,608 in a high-volume breakout fueled by growing institutional interest and bullish momentum, forming new support at $2,565 and testing resistance near $2,617.

Gold: A major bank raised its gold price forecasts, citing geopolitical risks and strong investor demand.

Nikkei 225: Asia-Pacific markets traded mixed, with Japan’s Nikkei 225 down slightly as investors awaited more details on the recent trade deal.

S&P 500: The S&P 500 rose on the news of the trade deal, despite some economic concerns raised by a drop in private payrolls.

Elsewhere in Crypto:

• Ripple Applies for Federal Bank Trust Charter, XRP Jumps 3%.
• Industry expert shares insights on the challenges of crypto gaming.
• A court grants approval for a significant lawsuit against a major crypto company.