Three Solana-focused exchange-traded funds (ETFs) listed in the U.S. have quietly pulled in $78 million over the previous month, reflecting rising curiosity in altcoin-backed funding merchandise regardless of the outsized dominance of bitcoin
and ether (ETH) in ETF markets.
The Solana REX-Osprey SOL + Staking ETF (SSK), which launched July 2, has already attracted over $41 million in property below administration, in response to Bloomberg Intelligence. In the meantime, Volatility Shares’ leveraged Solana ETF (SOLT) has collected $69 million year-to-date, and its common Solana ETF (SOLZ) holds $23 million.
“It’s all a lot smaller than btc or eth however lot of inexperienced numbers = good,” Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a publish on X.
The inflows come as a number of asset managers put together for what they hope would be the subsequent main crypto ETF approval: a spot Solana fund that features staking rewards. Whereas the U.S. Securities and Alternate Fee (SEC) has but to approve such a product, trade analysts are more and more optimistic.
Earlier this week, CoinDesk reported that the SEC requested issuers re-file key paperwork by the top of July, signaling a doubtlessly sooner timeline than the October deadline initially anticipated.
If that’s the case, solana (SOL) would be part of bitcoin and ether as one of many few cryptocurrencies accessible to U.S. traders by means of spot ETFs. The bitcoin ETFs, launched in January, have drawn practically $50 billion in capital, reworking the marketplace for digital property and inserting BlackRock’s iShares Bitcoin Belief (IBIT) among the many prime revenue-generating funds of any type. IBIT alone now holds 700,000 BTC.
Ethereum ETFs, which had been authorised extra lately, have pulled in about $4.5 billion to this point.
Disclaimer: Elements of this text had been generated with the help from AI instruments and reviewed by our editorial crew to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
