$SOL has not passed the spot ETF, at least not yet. On June 28, the REX-Osprey Solana Staking ETF was indeed passed. First of all, the time was June 28, which was last Saturday. Secondly, the REX-Osprey Solana Staking ETF and the traditional SOL spot ETF are fundamentally different in structure, source of income, risk exposure, etc. In layman's terms, the SOL spot ETF helps you legally hold SOL, while the REX-Osprey pledge ETF helps you legally hold SOL while helping you to stake on the chain to get interest. At first glance, the REX-Osprey Solana Staking ETF will be better, but in fact the biggest difference is that the spot ETF is a more open market with better liquidity, while the REX-Osprey Solana Staking ETF is similar to when Grayscale did not launch the spot ETF, and the liquidity will be greatly restricted. REX-Osprey Solana Staking ETF is more like a transitional version of spot ETF. Before the spot ETF is officially approved, it provides a tool to legally and compliantly hold SOL and get on-chain income. But in essence, its liquidity, valuation closeness, and bid-ask spreads are still not comparable to real spot ETFs. This tweet is sponsored by @ApeXProtocolCN｜Dex With ApeX