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Key Takeaways:
- The Rex Shares Solana Staking ETF (SSK) recorded $33M in first-day volume, beating XRP and SOL futures ETFs.
- Eric Balchunas projects the ETF’s AUM could grow 10X, potentially hitting $10M shortly.
- SOL price surged 4.3%, with CME futures volume hitting a new high of $1.7M post-launch.
The Rex Shares Solana Staking ETF (SSK) made a powerful debut on Wednesday, registering over $33 million in trading volume—a figure that far surpasses typical ETF launches. According to Bloomberg senior ETF strategist Eric Balchunas, SSK’s performance is especially impressive as it eclipsed both the XRP futures ETF and SOL futures ETF in day-one trading activity.
In a market hungry for exposure to crypto through traditional investment vehicles, this early success signals strong institutional and retail demand for Solana-based financial products.
Analyst Predicts 10X Growth in Assets Under Management
SSK also saw $12 million in inflows on launch day, with assets under management (AUM) already surpassing the $1 million mark. Balchunas suggested that if the ETF maintains this momentum, the AUM could quickly scale to $10 million or more. Responding to queries on social media platform X, he noted that the early trading volumes suggest sustained interest in the days ahead.
$1m. But based on todays volume prob see few more million -maybe even $10m – come in tomorrow in flows
— Eric Balchunas (@EricBalchunas) July 2, 2025
This performance could help accelerate the approval process for spot Solana ETFs, with nearly 13 issuers awaiting SEC approval. Balchunas has previously placed 95% odds on a spot Solana ETF getting the green light—higher than the likelihood of spot XRP ETF approval.
SOL Price Jumps as CME Futures Hit Record High
The market responded swiftly to the ETF launch. Solana (SOL) recorded a 4.3% daily price gain, trading around $159 at the time of reporting. Meanwhile, CME’s SOL futures volume reached an all-time high, crossing $1.7 million. This data indicates surging institutional interest in Solana, likely spurred by the ETF’s visibility and staking feature.
Also Read: REX-Osprey Launches First U.S. Solana Staking ETF with 7.3% Yield and Spot Exposure
SOL also saw a daily trading volume of $4 billion, reinforcing its strong market positioning. Analysts at Coingape suggest the token could rally another 47% to $235, though $159 remains a crucial resistance level.
Solana ETF Momentum Builds As Spot Product Likely
The successful launch of SSK not only outperforms its crypto ETF peers but also fuels broader interest in Solana-related products. With staking now available in an ETF wrapper and spot ETF approvals potentially imminent, Solana could become a frontrunner in the next wave of regulated crypto investment vehicles.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
