Solana Staking ETF Hits $33M on Launch Day

The Solana staking ETF (ticker: SSK), launched by REX Shares, made an impressive debut with $33 million in trading volume on its first day, outperforming both the XRP and Solana futures ETFs. Simultaneously, SOL’s price jumped 4.3%, while CME futures trading volume surged to a new all-time high.

According to Eric Balchunas, Senior ETF Strategist at Bloomberg, the SSK fund attracted $12 million in inflows on day one and now manages over $1 million in assets. He predicted that this number could grow tenfold if current interest levels continue. On the X platform (formerly Twitter), he noted:

“With today’s volume, we’ll likely see several million more – maybe even $10 million – in inflows by tomorrow.”

The success of the SSK staking ETF is seen as a crucial stepping stone toward the approval of spot Solana ETFs, with nearly 13 issuers currently awaiting the green light from the U.S. Securities and Exchange Commission (SEC). Previously, Balchunas estimated the approval odds of a spot Solana ETF at 95%, higher than that of a spot XRP ETF.

Meanwhile, SOL futures trading volume on the CME skyrocketed, surpassing $1.7 million and setting a new all-time high. This reflects growing investor interest in Solana, especially following the launch of the staking ETF.

As of now, SOL has climbed 4.3% in the past 24 hours, with daily trading volume hitting $4 billion. According to analysts, if the bullish momentum continues, SOL’s price could surge another 47% to $235. However, the $159 level remains a key resistance that needs to be breached to confirm a sustained uptrend.