Yesterday, the United States witnessed another precedent, as the first spot-based ETF was approved in the United States and opened for trading.
The first spot-based ETF from REX-Osprey, launched by the company, attracted significant interest on its first day.
Eric Balchunas, senior ETF analyst at Bloomberg, stated that the REX-Osprey Solana + Staking ETF, the first approved ETF for cryptocurrencies in the United States, achieved a trading volume of $33 million on its first day.
James Seyfarth, a Bloomberg analyst, noted the success of the Solana ETF, stating: "The first spot-based Solana ETF was launched in the United States. SSK recorded a trading volume of about $8 million within just 20 minutes of its launch."
The fund also achieved one million dollars in assets under management.
The performance of the Solana ETF outperformed that of the Solana and XRP futures funds traded on the exchange, and the average outflows from them.
Nevertheless, the fund's performance remained below the performance of the #Bitcoin ($BTC ) and #Ethereum ($ETH ) funds traded on the spot exchange.
After being accepted under stricter supervision and regulations under the Securities Act of 1940, the fund chose Anchorage as its custodian.
The $SSK fund closed today with a trading volume of $33 million. Once again, it outperformed the performance of the Solana futures fund traded on the exchange and the XRP futures fund traded on the exchange (or the average fund launch), but it is far below the performance of the Bitcoin and Ethereum funds traded on the spot exchange. #REX-OSPREYSolanaETF #BTCReclaims110K
