Solana ETFs Attract $78 Million in a Month Amid SEC Review

Three Solana-focused exchange-traded funds (ETFs) listed in the U.S. have 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 in ETF markets.

The Solana REX-Osprey SOL + Staking ETF (SSK), which launched on July 2, has already attracted over $41 million in assets under management. Meanwhile, Volatility Shares’ leveraged Solana ETF (SOLT) has accumulated $69 million year-to-date, and its regular Solana ETF (SOLZ) holds $23 million.

These inflows come as several asset managers prepare for what they hope will be the next major crypto ETF approval: a spot Solana fund that includes staking rewards. While the U.S. Securities and Exchange Commission (SEC) has yet to approve such a product, industry analysts are increasingly optimistic. Earlier this week, it was reported that the SEC requested issuers re-file key documents by the end of July, signaling a potentially faster timeline than the October deadline originally anticipated.

If approved, Solana (SOL) would join bitcoin and ether as one of the few cryptocurrencies available to U.S. investors through spot ETFs. The bitcoin ETFs, launched in January, have drawn nearly $50 billion in capital, transforming the market for digital assets. Ethereum ETFs, which were approved more recently, have pulled in about $4.5 billion so far.

According to analysts, the inflows into Solana ETFs indicate a growing interest in altcoin investment products. The newly launched SSK fund leads Solana ETF inflows as investors anticipate a spot ETF approval. The SEC's review of updated filings signals a potential green light for spot Solana ETFs soon, which could further boost interest in these investment products.