💰 The Solana-based fund, SSK, is the next step in the development of the market. It is unique not only in its focus on the third asset by market capitalization, but also in the fact that it is the first to implement a staking mechanism within an exchange-traded fund. Such a difference in volumes is likely explained not only by market capitalization, but also by the trust factor. Bitcoin and Ethereum are perceived as the “blue chips” of the crypto market, while other digital assets are perceived as riskier investments. Nevertheless, the very fact that SSK was launched before the approval of spot ETFs on XRP, Cardano or Avalanche may indicate that Solana is becoming a leading candidate for institutional recognition.
📊 As of July 2, the spot ETF from REX Shares and Osprey Funds showed $33.7 million in turnover and $12 million in net inflow. This is a modest result against the background of Bitcoin products and Ethereum funds, but it is significantly higher than that of altcoin futures funds, such as SOLZ (Solana Futures ETF from Volatility Shares). Balchunas, in particular, drew attention to this, noting that the volume of assets under SOLZ management in three months reached only $23 million. $SSK ended day with $33m in volume. Again, blows away the Solana futures ETF and XRP futures ETFs (or the avg ETF launch) but it is much lower than the Bitcoin and Ether spot ETFs. pic.twitter.com/t6LkQwDXLc— Eric Balchunas (@EricBalchunas) July 2, 2025
