Three Solana-centric Exchange Trade Funds (ETFs) listed in the US have quietly drawn in $78 million over the past month, reflecting growing interest in altcoin-backed investment products despite the massive control of Bitcoin.
Ether (ETH) in the ETF market.
According to Bloomberg Intelligence, the Solana Rex-Soly Sol + Staking ETF (SSK), launched on July 2nd, already manages more than $41 million in assets. Meanwhile, the volatility leveraged Solana ETF (SOLT) has accumulated $69 million since the start of the year, while the regular Solana ETF (Solz) owns $23 million.
“It’s all much smaller than BTC or ETH, but many green numbers = good.”
The influx occurs as some asset managers are prepared for what they hope to become the approval of the next major Crypto ETF. The Securities and Exchange Commission (SEC) has not yet approved such products, but industry analysts are becoming increasingly optimistic.
Earlier this week, Coindesk reported that the SEC required publishers to refile important documents by the end of July, dictating a timeline that would potentially be faster than initially expected.
If so, Solana (SOL) will join Bitcoin and Ether as one of the few cryptocurrencies available to US investors through Spot ETFs. The Bitcoin ETF, launched in January, pulled out nearly $50 billion in capital, transformed the market for digital assets, and placed BlackRock’s iShares Bitcoin Trust (IBIT) among the funds that generate top revenues of all kinds. Only IBIT holds 700,000 BTC.
The recently approved Ethereum ETF has drawn around $4.5 billion so far.
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