Solana ETFs Attract $78M Inflows as Altcoin Investment Interest Surges
Rising Interest in Solana ETFs: $78 Million in Inflows
Surge in Solana-Focused ETFs
In the past month, three exchange-traded funds (ETFs) centered on Solana have collectively attracted $78 million, highlighting a growing enthusiasm for investment products linked to altcoins, even as Bitcoin and Ethereum continue to dominate the ETF landscape.
Key Players in the Solana ETF Market
The Solana REX-Osprey SOL + Staking ETF (SSK), which debuted on July 2, has already garnered over $41 million in assets under management, according to Bloomberg Intelligence. Additionally, the Volatility Shares’ leveraged Solana ETF (SOLT) has amassed $69 million year-to-date, while its standard Solana ETF (SOLZ) holds $23 million.
Analyst Insights
Bloomberg Intelligence’s senior ETF analyst, Eric Balchunas, noted the impressive performance of these funds, despite their smaller size compared to Bitcoin and Ethereum. He remarked on the positive trends in the market, emphasizing that “a lot of green numbers = good.”
Anticipation for Spot Solana ETFs
The recent inflows coincide with the preparations of various asset managers who are hopeful for the approval of a spot Solana ETF that would incorporate staking rewards. Although the U.S. Securities and Exchange Commission (SEC) has not yet greenlit such a product, optimism is growing among industry analysts.
SEC Developments
Earlier this week, CoinDesk reported that the SEC has requested issuers to re-submit essential documents by the end of July, suggesting a potentially expedited timeline compared to the previously expected October deadline.
Solana Joins the Ranks of Bitcoin and Ethereum
If approved, Solana would become one of the few cryptocurrencies accessible to U.S. investors through spot ETFs, alongside Bitcoin and Ethereum. Bitcoin ETFs, which launched in January, have attracted nearly $50 billion, significantly reshaping the digital asset market and positioning BlackRock’s iShares Bitcoin Trust (IBIT) as one of the highest revenue-generating funds. Currently, IBIT holds approximately 700,000 BTC.
Ethereum ETFs, which received approval more recently, have drawn in around $4.5 billion to date.
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