Solana News Today: Solana ETFs Climb to $400M AUM Despite SEC Delays and Market Volatility

The U.S. crypto market is witnessing a pivotal shift as spot Solana (SOL) exchange-traded funds (ETFs) gain traction, with Bitwise's BSOL ETF and REX-Osprey's SSK ETF leading the charge. The Bitwise Solana ETF, which debuted on Oct. 28, saw $69.5 million in net inflows on its first day despite trading at a 1.04% discount to its net asset value; that launch data was reported by Yahoo Finance. This performance lags behind the $237.9 million inflow for Bitwise's Bitcoin ETF and $204 million for its Ethereum counterpart on their launch days, highlighting lingering demand challenges for altcoin ETFs amid a volatile market. Meanwhile, REX-Osprey's SSK ETF reported $24 million in weekly inflows, boosting its assets under management to over $400 million and making it one of the largest altcoin ETFs on Wall Street, according to Crypto.news. Analysts attribute this growth to institutional interest in liquid alternatives, with JPMorgan projecting potential $6 billion in inflows for Solana ETFs in their first year.

The regulatory landscape for Solana ETFs remains fragmented. While Bitwise's BSOL and REX-Osprey's SSK are already trading, other applications face delays. VanEck, 21Shares, and CoinShares await SEC approval, and a government shutdown has stalled processing, as reported by CoinEdition. Bitwise CEO Hunter Horsley recently hinted at "major progress" this week, though concrete updates remain elusive. Fidelity's recent S-1 filing update for its SOL ETF removed a "delay amendment," signaling readiness for SEC review—a move mirroring Bitwise's strategy to streamline approval, according to Lookonchain.

Market dynamics for Solana itself are mixed. The token rose to $195 on Oct. 25, up 12% from its monthly low, as staking ETFs like SSK distribute rewards to investors, according to Crypto.news. However, broader market conditions have weighed on momentum: SOL fell 3.2% in the past 24 hours, trading at $195 with a $107 billion market cap. Daily trading volume surged 19% to $7.5 billion, reflecting renewed interest despite macroeconomic headwinds, per the Yahoo Finance report.

Beyond ETFs, Solana's ecosystem shows resilience. Stablecoin supply on the network grew 14% to $15.6 billion in 30 days, while decentralized exchange protocols processed $140 billion in volume—a 55% increase, according to Crypto.news. This growth positions Solana as a key player in the altcoin space, though its ETF adoption must overcome hurdles faced by earlier Bitcoin and Ethereum products.