Three Solana-focused replace-traded funds (ETFs) listed in the U.S. bag quietly pulled in $78 million over the past month, reflecting rising interest in altcoin-backed investment products despite the outsized dominance of bitcoin
and ether (ETH) in ETF markets.
The Solana REX-Osprey SOL + Staking ETF (SSK), which launched July 2, has already attracted over $41 million in sources under management, in line with Bloomberg Intelligence. Within the meantime, Volatility Shares’ leveraged Solana ETF (SOLT) has accrued $69 million year-to-date, and its regular Solana ETF (SOLZ) holds $23 million.
“It’s all vital smaller than btc or eth but lot of green numbers = precise,” Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a put up on X.
The inflows come as lots of asset managers put together for what they hope may perchance be the next principal crypto ETF approval: a space Solana fund that entails staking rewards. While the U.S. Securities and Switch Commission (SEC) has yet to approve this type of product, alternate analysts are increasingly optimistic.
Earlier this week, CoinDesk reported that the SEC requested issuers re-file key documents by the cease of July, signaling a doubtlessly faster timeline than the October in the discount of-off date initially place anticipated.
If that is the case, solana (SOL) would join bitcoin and ether as one amongst the few cryptocurrencies available in the market to U.S. traders via space ETFs. The bitcoin ETFs, launched in January, bag drawn nearly $50 billion in capital, reworking the marketplace for digital sources and placing BlackRock’s iShares Bitcoin Belief (IBIT) amongst the tip revenue-producing funds of any form. IBIT alone now holds 700,000 BTC.
Ethereum ETFs, which bag been accredited more unbiased no longer too prolonged ago, bag pulled in about $4.5 billion up to now.
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