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 (BTC) 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 assets under management, according to Bloomberg Intelligence. Meanwhile, Volatility Shares’ leveraged Solana ETF (SOLT) has accumulated $69 million year-to-date, and its regular Solana ETF (SOLZ) holds $23 million.
“It’s all much smaller than btc or eth but lot of green numbers = good,” Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a post on X.
The 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, CoinDesk 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 so, 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 and placing BlackRock’s iShares Bitcoin Trust (IBIT) among the top revenue-generating funds of any kind. IBIT alone now holds 700,000 BTC.
Ethereum ETFs, which were approved more recently, have pulled in about $4.5 billion so far.
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