Solana ETFs Quietly Gain Momentum with $78M in Inflows Amid Spot ETF Hopes

Solana-focused exchange-traded funds (ETFs) in the U.S. have seen a notable surge in capital inflows, attracting $78 million over the past month. This growth reflects increasing investor interest in altcoin-backed ETFs, despite the continued dominance of Bitcoin (BTC) and Ethereum (ETH) in the crypto investment space.

Leading the charge is the Solana REX-Osprey SOL + Staking ETF (SSK), which debuted on July 2 and has already secured over $41 million in assets under management, according to Bloomberg Intelligence. Meanwhile, Volatility Shares’ leveraged Solana ETF (SOLT) has pulled in $69 million year-to-date, and its unleveraged counterpart (SOLZ) holds $23 million. Bloomberg ETF analyst Eric Balchunas commented on X that “a lot of green numbers = good,” signaling positive investor sentiment.

The inflows come as asset managers eye the potential approval of a spot Solana ETF that includes staking rewards. While the U.S. Securities and Exchange Commission (SEC) has not yet approved such a product, optimism is growing. CoinDesk recently reported that the SEC has asked issuers to refile key documents by the end of July, suggesting a faster timeline than the previously expected October decision.

If approved, Solana (SOL), currently trading at $156.75, could join Bitcoin and Ethereum as the only cryptocurrencies accessible to U.S. investors via spot ETFs. Bitcoin ETFs, launched in January, have already attracted nearly $50 billion, with BlackRock’s iShares Bitcoin Trust (IBIT) alone managing over 700,000 BTC. Recently approved Ethereum ETFs have pulled in around $4.5 billion.

Solana’s rising ETF inflows hint at its growing legitimacy as a mainstream digital asset investment, positioning it as the next contender in the evolving crypto ETF landscape.