- Solana’s first ETF, SSK, ranked in the top 1% of U.S. ETF launches with $33M turnover and $12M in inflows on Day 1.
- The SEC fast-tracked other SOL ETF filings, signaling possible approvals before the October deadline.
- Solana’s ETF has already acquired 427K SOL worth $69.7M, indicating strong institutional demand and 2025 ATH potential.
The arrival of Solana into the ETF market was one of the largest moves from last week when it brought to market the REX-Osprey Solana + Staking ETF (SSK). SSK, which was launched on July 2, experienced a first-day trading volume of $33 million, which places it within the top 1% of ETF launches by volume within the United States.
According to the IntoTheBlock report, the fund brought in $12 million of primary inflows during its first day of trading alone. SSK is unique among other cryptocurrency ETFs by its build; it follows a 1940-Act format rather than the 1933-Act format that has been used on Bitcoin and Ether ETFs.
This structure makes the SSK fund stake a percentage of its holdings in SOL, targeting returns of roughly 7%. It thus becomes the first US-listed product to make investors receive staking rewards directly through an ETF. The development has caught the attention of Ethereum advocates awaiting its counterpart.
According to BitBull, the fund has purchased 427,000 SOL tokens to date since inception, currently valued at $69.7 million. That inflow exceeds Ethereum’s ETF debut performance and implies solid institutional appetite among buyers supporting Solana.
Also Read: Solana Races Towards $180, Can Bulls Break Resistance?
SEC Pushes Solana ETF Applications into Fast Lane
The U.S. SEC was swift just days after the SSK launch, asking other Solana ETF applicants to revise and resubmit their submissions by July 31. The fast timeline looks promising towards an approval of numerous SOL ETFs well before the October 10 deadline.
This speculation could catalyze a change in budget allocation across the whole crypto space. As more SOL ETF products hit the market before matching products from XRP or Dogecoin, fund flows from smaller-cap cryptos to SOL may cause pressure on those lesser-known assets. As a result, liquidity may tighten across other segments within the market, especially within altcoins.
Unlock Events and Market Liquidity Challenges
The ETF growth by Solana comes on the heels of a broader trend of unlocks of tokens. Over $400 million worth of tokens have planned unlocks into the market within just one week, and yet still many more to follow within July. These unlocks create an imbalance between supply pressure and market demand.
Very interestingly, SUI just saw a 12% rally despite its token unlock, which showed that strong stories and liquidity can help temper supply risks. Bitcoin and Ethereum ETFs still attract an average of $298 million in weekly inflows and take up some of the market’s downside pressure.
Also Read: Solana Gaining Strength With Breakout Targets at $179 to $265
Disclaimer: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.
