Solana News Today: Solana ETFs Reach $400M in Assets Under Management Amid SEC Postponements and Market Fluctuations
- U.S. Solana ETFs (BSOL/SSK) attract $400M AUM as Bitwise's BSOL sees $69.5M inflows despite 1.04% NAV discount. - Altcoin ETFs lag behind Bitcoin/Ethereum counterparts, with SSK's $24M weekly inflows driven by institutional demand for liquid alternatives. - SEC delays plague VanEck/21Shares applications while Fidelity removes S-1 delay amendment, signaling regulatory strategy shifts. - SOL price fluctuates amid staking rewards and macroeconomic pressures, trading at $195 with $107B market cap despite 19%
The U.S. cryptocurrency sector is undergoing a significant transformation as spot
The regulatory environment for Solana ETFs remains inconsistent. While Bitwise's BSOL and REX-Osprey's SSK are already available for trading, other proposals are experiencing setbacks. VanEck, 21Shares, and CoinShares are still awaiting approval from the SEC, and a government shutdown has further delayed the process, according to
Solana's market performance has been varied. The token climbed to $195 on October 25, marking a 12% increase from its monthly low, as staking ETFs like SSK distributed rewards to holders, according to Crypto.news. Nevertheless, broader market pressures have dampened its momentum: SOL dropped 3.2% over the past day, trading at $195 with a market capitalization of $107 billion. Daily trading volume jumped 19% to $7.5 billion, signaling renewed enthusiasm despite challenging macroeconomic conditions, as per Yahoo Finance.
Outside of ETFs, Solana's ecosystem continues to demonstrate strength. The supply of stablecoins on the network expanded by 14% to reach $15.6 billion over the past month, and decentralized exchanges processed $140 billion in transactions—a 55% rise, according to Crypto.news. This progress cements Solana's role as a major force among altcoins, though its ETF growth still faces obstacles similar to those encountered by earlier Bitcoin and Ethereum funds.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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