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The newly listed Solana ETF marked a notable entry into U.S. markets, recording $12 million in inflows on launch day. It traded under the symbol SSK on the Cboe BZX Exchange and posted $33 million in volume. The fund is the first in the U.S. to offer spot Solana exposure with staking yields, showing clear institutional interest.

Strong Opening for Solana ETF Reflects Institutional Appetite

The SOL ETF opened with $8 million in volume within the first 20 minutes, indicating robust early activity. By market close, it had reached $33 million in total volume, finishing with $12 million in net inflows. This positioned the Solana ETF ahead of other altcoin-based ETFs on debut metrics.

$SSK ended day with $33m in volume. Again, blows away the Solana futures ETF and XRP futures ETFs (or the avg ETF launch) but it is much lower than the Bitcoin and Ether spot ETFs. pic.twitter.com/t6LkQwDXLc

— Eric Balchunas (@EricBalchunas) July 2, 2025

Analysts observed that the ETF outperformed both the XRP and Solana futures ETFs launched earlier. Although smaller than Bitcoin or Ether ETF openings, this debut still signaled expanding crypto ETF interest. Unlike spot Bitcoin ETFs, this SOL ETF uses a structure under the Investment Company Act of 1940.

The SOL ETF bypassed traditional SEC filing routes by investing over 40% of assets in foreign ETPs. It navigated regulatory issues that temporarily delayed approval in May, eventually securing clearance for launch. With Anchorage Digital as custodian, the fund also integrates staking returns for holders.

XRP Futures ETF Falls Behind as Solana ETF Gains Momentum

The XRP futures ETF recorded significantly lower first-day trading volume compared to the Solana ETF. While both launched in the U.S. market, the SOL ETF achieved more substantial traction with institutional investors. This performance reinforces the broader interest in staking-enabled crypto investment vehicles.

The XRP product, lacking direct staking integration, saw limited engagement upon its release. In contrast, the SOL ETF combined spot exposure and yield generation, capturing more market attention. The structural design and staking element contributed to the Solana ETF’s early success.

Institutional sentiment favors assets with utility beyond price movement, such as staking rewards. This could influence future altcoin ETF strategies, including upcoming XRP and Litecoin products. Market observers noted the SOL ETF as a benchmark for upcoming launches.

CME Solana Futures Reflect Surging Institutional Demand

Following the SOL ETF launch, open interest in Solana CME futures rose sharply, reaching $167 million. This marked a new high and suggested growing institutional involvement in Solana-linked assets. Futures activity complemented ETF trading data, supporting the demand narrative.

SOL price moved modestly, gaining 3.6% in 24 hours, while outperforming XRP in weekly gains. Though still below January highs, Solana showed consistent investor confidence. The ETF debut and futures growth together indicated strong momentum for Solana-related instruments.

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