💼 Solana Price Climbs as Institutional Demand Grows — $40M SOL Staking ETF Inflows Signal Strong Momentum
Solana recovers to $155 with support from the 50- and 100-day EMAs.
On its second day, Solana staking ETF inflows top $40 million.
SSK, the first US-regulated Solana ETF, combines access and staking incentives.
Solana (SOL) rose over 2% to $154 on Wednesday, indicating positive potential. After a sharp slump from $187 in May to $125 on June 22, the smart contract token recovered.
Due to institutional interest in tokenized real-world assets (RWAs) and exchange-traded funds, the price rose 22% off the range low.
Solana ETF receives $40 million.
The Solana staking ETF, SSK, debuted on Tuesday, offering institutional and individual investors access to smart contract assets. This product offers spot asset SOL exposure and staking rewards in the conventional financial market.
REX Shares and Osprey Funds created SSK to combine on-chain staking incentives with safe off-chain ETF trading via stock exchanges.
Bloomberg analyst Eric Balchunas said that the SSK ETF received $20 million on its first day of trading and $80 million on Wednesday.
Inflow volume is substantially lower than Bitcoin (BTC) and Ethereum (ETH) spot ETFs' inaugural trading days, but Balchunas noted SSK volume is doing nicely, with several numbers in the green.
After building a framework to speed up product listing, the Securities & Exchange Commission (SEC) has indicated about legalizing spot Solana ETFs.
Solana is above the 100-day Exponential Moving Average (EMA) at $153 and the 50-day EMA at $151.
A daily closing above the 100-day EMA at $153 might strengthen the bullish grip and boost the likelihood of an uptrend extension over the 200-day EMA at $158.
Still, traders should be cognizant of macroeconomic uncertainties and ready for a surprise volatility surge that might reverse a trend. Beyond the 100-day and 50-day EMAs, potential support zones are $147, tested Tuesday, and $125, tested June 22.
#solana #SECETFApproval #TrumpTariffs #MuskAmericaParty $SOL $BTC $XRP
