Three exchange-traded funds (ETFs) listed in the U.S., focused on Solana, achieved $78 million last month, reflecting the growing interest in investment products backed by alternative cryptocurrencies, despite the massive dominance of Bitcoin ($109,160.63 BTC) and Ethereum in ETF markets.
The Solana REX-Osprey Fund attracted
+ Staking ETF (SSK), which launched on July 2, has over $41 million in assets under management, according to Bloomberg Intelligence. Meanwhile, the leveraged Solana ETF (SOLT) managed by Volatility Shares has raised $69 million to date, while the total assets of the regular Solana ETF (SOLZ) stand at $23 million.
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, wrote in a post on platform X: "It’s much smaller than Bitcoin or Ethereum, but the number of positive figures means something good."
These inflows come as many asset managers prepare for what they hope will be the next major approval for a cryptocurrency ETF: a spot Solana fund that includes staking rewards. While the SEC has not yet approved this product, industry analysts are becoming increasingly optimistic.
Earlier this week, CoinDesk reported that the U.S. Securities and Exchange Commission asked issuers to resubmit key documents by the end of July, indicating a faster timeline than the expected October deadline.
If that’s the case, Solana (SOL) will join Bitcoin and Ethereum as one of the few cryptocurrencies available to American investors through spot exchange-traded funds. Bitcoin ETFs, launched in January, attracted nearly $50 billion in capital, causing a shift in the digital asset market, and BlackRock’s iShares Bitcoin Trust (IBIT) is now among the top income-generating funds ever. IBIT alone now holds 700,000 Bitcoin.
Recently approved Ethereum ETFs have attracted around $4.5 billion to date.
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