Solana ETFs See $78M Inflows as Interest in Altcoin Investment Products Grows

Three Solana-focused exchange-traded funds (ETFs) listed successful the U.S. person softly pulled successful $78 cardinal implicit the past month, reflecting rising involvement successful altcoin-backed concern products contempt the outsized dominance of bitcoin (BTC) and ether (ETH) successful ETF markets.

The Solana REX-Osprey SOL + Staking ETF (SSK), which launched July 2, has already attracted implicit $41 cardinal successful assets nether management, according to Bloomberg Intelligence. Meanwhile, Volatility Shares’ leveraged Solana ETF (SOLT) has accumulated $69 cardinal year-to-date, and its regular Solana ETF (SOLZ) holds $23 million.

“It’s each overmuch smaller than btc oregon eth but batch of greenish numbers = good,” Bloomberg Intelligence elder ETF expert Eric Balchunas wrote successful a station connected X.

The inflows travel arsenic respective plus managers hole for what they anticipation volition beryllium the adjacent large crypto ETF approval: a spot Solana money that includes staking rewards. While the U.S. Securities and Exchange Commission (SEC) has yet to o.k. specified a product, manufacture analysts are progressively optimistic.

Earlier this week, CoinDesk reported that the SEC requested issuers re-file cardinal documents by the extremity of July, signaling a perchance faster timeline than the October deadline primitively anticipated.

If so, solana (SOL) would articulation bitcoin and ether arsenic 1 of the fewer cryptocurrencies disposable to U.S. investors done spot ETFs. The bitcoin ETFs, launched successful January, person drawn astir $50 cardinal successful capital, transforming the marketplace for integer assets and placing BlackRock’s iShares Bitcoin Trust (IBIT) among the apical revenue-generating funds of immoderate kind. IBIT unsocial now holds 700,000 BTC.

Ethereum ETFs, which were approved much recently, person pulled successful astir $4.5 cardinal truthful far.

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