Spot Solana ETFs: The New Crypto Crush? 💸🚀

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What to know:

  • The Solana REX-Osprey SOL + Staking ETF (SSK) has attracted $41 million since launching on July 2. 🚀
  • Volatility Shares’ 2x Solana ETF (SOLT) has brought in $69 million year-to-date. 💰
  • The SEC is reviewing updated filings, signaling a potential green light for spot Solana ETFs soon. 🤞

Three Solana-focused exchange-traded funds (ETFs) listed in the U.S. have quietly pulled in $78 million over the past month, reflecting rising interest in altcoin-backed investment products despite the outsized dominance of bitcoin and ether in ETF markets. Who knew Solana was the new it-girl of the crypto world? 🤩

The Solana REX-Osprey SOL + Staking ETF (SSK), which launched July 2, has already attracted over $41 million in assets under management, according to Bloomberg Intelligence. Meanwhile, Volatility Shares’ leveraged Solana ETF (SOLT) has accumulated $69 million year-to-date, and its regular Solana ETF (SOLZ) holds $23 million. Not bad for a crypto that’s not named Bitcoin or Ethereum, right? 🙃

“It’s all much smaller than btc or eth but lot of green numbers = good,” Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a post on X. I mean, who doesn’t love a good green number? 🍀

The inflows come as several asset managers prepare for what they hope will be the next major crypto ETF approval: a spot Solana fund that includes staking rewards. While the U.S. Securities and Exchange Commission (SEC) has yet to approve such a product, industry analysts are increasingly optimistic. It’s like waiting for the next season of your favorite show, but with more numbers and less drama. 📈

Earlier this week, CoinDesk reported that the SEC requested issuers re-file key documents by the end of July, signaling a potentially faster timeline than the October deadline originally anticipated. So, fingers crossed and eyes on the prize, folks! 🙏

If so, Solana would join Bitcoin and Ethereum as one of the few cryptocurrencies available to U.S. investors through spot ETFs. The Bitcoin ETFs, launched in January, have drawn nearly $50 billion in capital, transforming the market for digital assets and placing BlackRock’s iShares Bitcoin Trust (IBIT) among the top revenue-generating funds of any kind. IBIT alone now holds 700,000 BTC. That’s a lot of digital dough! 🍪

Ethereum ETFs, which were approved more recently, have pulled in about $4.5 billion so far. So, is Solana the next big thing? Only time will tell, but for now, it’s definitely making waves. 🌊

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2025-07-09 21:40