REX Solana Staking ETF Shines on Debut with $33M Volume
With over $33 million in trading volumes, the REX-Osprey Solana Staking ETF debut on Wednesday was a rather successful event.On Day 1, the SSK fund also received $12 million in inflows, which is a good beginning for a staking ETF.
With assets under management (AUM) reaching $1 million, the Rex Shares Solana staking ETF (SSK) outperformed the XRP futures ETF and SOL futures ETF with a robust $33 million trading volume on the first day. According to Bloomberg ETF expert Eric Balchunas, if SSK continues to generate this kind of demand in the future, the AUM may rapidly rise tenfold. Following this news, the price of SOL reacted favorably, rising 4.3%, and the volume of CME futures reached an all-time high.
With over $33 million in trading volumes, the REX-Osprey Solana Staking ETF debut on Wednesday was a rather successful event. On Day 1, the SSK fund also received $12 million in inflows, which is a good beginning for a staking ETF.
Positive Stride Forward
Additionally, Balchunas said that while the assets under management have surpassed $1 million, he anticipates that they will exceed $10 million in the days ahead. In response to a question on the X platform, Balchunas said that, given the volume today, a few additional million dollars—possibly even $10 million—should arrive in flows tomorrow.
With over 13 issuers awaiting SECclearance, the launch of the staking ETF will open the door for the spot Solana ETF. Balchunas previously increased the approval chances for spot Solana ETFs to 95%, which was higher than the approval odds for spot XRP ETF. Crypto ETF demand has been increasing, with the most sought-after ETFs being XRP, SOL, ADA, and LTC.
After yesterday’s event, the Chicago Mercantile Exchange’s (CME) SOL futures trading volume jumped to over $1.7 million, its highest level ever. This indicates that traders have a high demand for the cryptocurrency after the debut of the staking ETF.
#solana #etf
$SOL
With assets under management (AUM) reaching $1 million, the Rex Shares Solana staking ETF (SSK) outperformed the XRP futures ETF and SOL futures ETF with a robust $33 million trading volume on the first day. According to Bloomberg ETF expert Eric Balchunas, if SSK continues to generate this kind of demand in the future, the AUM may rapidly rise tenfold. Following this news, the price of SOL reacted favorably, rising 4.3%, and the volume of CME futures reached an all-time high.
With over $33 million in trading volumes, the REX-Osprey Solana Staking ETF debut on Wednesday was a rather successful event. On Day 1, the SSK fund also received $12 million in inflows, which is a good beginning for a staking ETF.
Positive Stride Forward
Additionally, Balchunas said that while the assets under management have surpassed $1 million, he anticipates that they will exceed $10 million in the days ahead. In response to a question on the X platform, Balchunas said that, given the volume today, a few additional million dollars—possibly even $10 million—should arrive in flows tomorrow.
With over 13 issuers awaiting SECclearance, the launch of the staking ETF will open the door for the spot Solana ETF. Balchunas previously increased the approval chances for spot Solana ETFs to 95%, which was higher than the approval odds for spot XRP ETF. Crypto ETF demand has been increasing, with the most sought-after ETFs being XRP, SOL, ADA, and LTC.
After yesterday’s event, the Chicago Mercantile Exchange’s (CME) SOL futures trading volume jumped to over $1.7 million, its highest level ever. This indicates that traders have a high demand for the cryptocurrency after the debut of the staking ETF.
#solana #etf
$SOL
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