The Rex-Sosprey Solana Staking ETF (SSK), the primary Solana Staking ETF in the USA, made a giant splash at launch. SSK completed the day with a $33 million quantity, in accordance with Bloomberg ETF skilled Eric Balknath. This diagram is way greater than the Sol Futures ETF and XRP Futures ETF numbers. The debut quantity is unbelievable, however Bulknath emphasizes that this quantity is much decrease than the variety of spot ETFs in Bitcoin (BTC) and Ethereum (ETH).
Solana is profiting because the market exhibits indicators of reversal
The cryptocurrency market seems to be breaking previous resistance. SOL has collected 4.1% on the day by day chart, 7.6% on the weekly chart, 6.3% on the 14-day chart, and 4.4% since July 2024.

The market revival might be as a consequence of an elevated institutional inflow into Spot Bitcoin (BTC) ETFs. BTC is in violation of the $109,000 mark. SOL and different crypto property could also be following the trajectory of BTC. The unique code is presently down simply 2.2% from its all-time excessive of $111,814.
Will the market keep this gathering?
The present market is maintained by a big institutional inflow. If monetary firms are in line with rising publicity to crypto, the rally might proceed. Based on Commonplace Chartered's digital property skilled Geoffrey Kendrick, BTC might proceed to fulfill within the coming weeks. Kendrick expects the asset to hit a excessive of $135,000 within the third quarter of this yr. If BTC hits a brand new peak, SOL might be at a brand new month-to-month excessive.
There are a number of Solana (Sol) ETF functions awaiting approval within the SEC. It’s doubtless that the SEC will approve not less than one Sol ETF inside this yr. ETH launches might result in a significant surge in institutional funding within the challenge. This improvement may lead to an enormous value spike for SOL. It has not but been seen how the SEC will make selections.
Markets might face corrections. Commerce wars and geopolitical tensions may cause worry amongst traders.
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