Figment and OpenTrade have introduced a new institutional stablecoin yield product, OpenTrade Stablecoin Staking Yield, aiming for a 15% target yield. The strategy leverages staking returns from Solana (SOL $130.32) while implementing an offsetting perpetual-futures hedge managed by OpenTrade.
Figment said the strategy has historically delivered yields above Solana’s typical 6.5%–7.5% staking rate, offering institutions exposure to high-quality network rewards. Jeff Handler, OpenTrade’s co-founder and chief commercial officer, emphasized that the product provides access to a unique yield opportunity not otherwise available through traditional assets or conventional DeFi protocols.
Institutional staking and SOL ETFs gain traction
The passage of the US GENIUS Act in July clarified regulatory rules for stablecoins, but it prohibits stablecoin issuers from offering direct yield. This has prompted institutions to shift toward staking-based products to access regulated returns.
Solana has drawn particular interest through staking ETFs. REX-Osprey launched the first Solana staking ETF in July, reaching over $100 million in assets under management within weeks. Bitwise followed with a Solana ETF debuting at more than $220 million on Oct. 28, and Grayscale’s Solana Trust ETF (GSOL) began trading on NYSE Arca the next day. These ETFs stake SOL held by the fund to secure the network, with Grayscale returning approximately 77% of staking rewards to shareholders and Bitwise distributing roughly 72%.
Despite institutional demand, SOL’s market price has struggled recently, trading near $135 per token at the time of writing down about 19% over the past two weeks, according to CoinGecko.
Source: Coingecko.com
Bridging DeFi, staking, and regulated finance
With Figment managing $18 billion in staked assets and OpenTrade specializing in onchain and RWA-backed lending, the product reflects a broader trend of structured, institution-friendly crypto yield products. As regulated access to Solana staking rewards grows, these solutions may attract more capital from cautious institutional investors seeking both security and high yield.