Solana ETF skyrockets to $100 million AUM in just 12 days

Solana's market resurgence and DeFi activity drive institutional purchases, solidifying its status as a major crypto asset.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

The REX-Osprey Solana Staking ETF (SSK) has crossed $100 million in assets under management (AUM), just 12 trading days after its July 2 launch, according to a July 22 statement.

Greg King, founder of REX Shares, highlighted the speed of this growth as a testament to rising investor appetite for innovative crypto exposure through regulated investment vehicles.

According to him:

“Crossing the $100 million mark in just over two weeks underscores the appetite for innovative, blockchain-native solutions.”

SSK is the first US-listed spot Solana ETF to incorporate on-chain staking rewards. This gives investors direct exposure to SOL’s market price and staking yield within a liquid, regulated ETF format.

The product removes technical barriers such as managing wallets or self-custody, making Solana more accessible to traditional investors.

Due to this, the ETF gathered significant interest from investors in the market. Notably, Eric Balchunas, a senior ETF analyst at Bloomberg, pointed out that SSK recorded an impressive $12 million in trading volume on its first day, an early sign of strong market demand.

SOL’s rising value

The ETF milestone coincides with a renewed surge in Solana’s price, which climbed above $200 for the first time since January 2025.

According to CryptoSlate’s data, this rally pushed Solana’s market capitalization to $107 billion, securing its place as the fifth-largest digital asset by market cap.

On-chain activity continues to support the bullish momentum. DeFiLlama data shows that the total value locked in Solana-based DeFi protocols has surpassed $10 billion. Meanwhile, over the past week, more than 350,000 new tokens have been deployed on the Solana network, marking a 9% increase.

Moreover, institutional investors are also showing heightened interest in the crypto asset.

On July 21, Upexi disclosed a $20 million acquisition of 100,000 SOL, while Defi Development Corp. announced a separate $28 million purchase of 141,383 SOL.

These moves signal confidence in Solana’s long-term potential among prominent asset managers and institutional investors.

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