SOL has not been approved through spot ETFs, at least not yet. On June 28th, the REX Osprey Solana Staking ETF was indeed approved. To be clear, first of all, it was on June 28th, which was last Saturday. Secondly, there are essential differences between the REX Osprey Solana Staking ETF and the traditional SOL spot ETF in terms of structure, sources of returns, and risk exposure. To put it simply, the SOL spot ETF helps you legally hold SOL, while the REX Osprey staking ETF helps you legally hold SOL while also staking it on the blockchain to earn interest. At first glance, the REX Osprey Solana Staking ETF may seem better, but in reality, the biggest difference is that spot ETFs are a more open market with better liquidity, while the REX Osprey Solana Staking ETF is similar to when Grayscale did not launch a spot ETF, where liquidity is greatly constrained. The REX Osprey Solana Staking ETF is more like a transitional version of a spot ETF. Prior to the official approval of spot ETFs, a legal and compliant tool was provided for holding SOL and obtaining on chain returns. But fundamentally, its liquidity, valuation closeness, and bid ask spread still cannot be compared to real spot ETFs. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex