The ETF REX-OSPREY SOLANA STARKING (SSK) exceeded $ 200 million in cumulative flows for the first time on September 11, amid the strong price action of Solana (Sun).
The trade under Ticker SSK, the Fund fought with the adoption during its first months, registering zero activity in four of the six days of negotiation until August 8, according to the data of Farside investors.
The employer reflected the broader institutional doubts towards Solana -centered investment products compared to Bitcoin and Ethereum alternatives.
Analysts attributed the slow beginning to structural complexity instead of demand deficiencies.
In addition, the background operates outside the ETF Spot frames recorded by Standard SEC, incorporating rethinking mechanisms and ETF assignments on the high seas that differentiate it from traditional cryptocurrency products.
With 0.75% per year, SSK management rates positions at the upper end of cryptographic ETF expenses relations compared to the main Bitcoin and Ethereum funds charged 0.15% to 0.25%.
Changing tides
However, the institutional feeling changed at the end of August, after advertisements on the corporate strategies of the Solana Treasury.
Galaxy Digital, Multicoin Capital and Jump Crypto announced that they were chasing $ 1 billion to gather a Solana treasure through a public company vehicle, with Fitzgerald singer as the main banker.
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Companies committed cash and Stablecoins to Forward Industries, which closed a private placement of $ 1.65 billion on September 11.
In addition, Sol Strategies assured Nasdaq’s approval to start operating on September 9 as a Solana investment vehicle.
Institutional flows
Institutional flows reflected the change of impulse. The products quoted in the Solana Stock Exchange (ETPs) registered $ 177 million in tickets during the week of August 25 to 29, which represents the highest Altcoin flow, excluding Ethereum.
The first week of the month saw the products of Solana dominating Altcoin flows with $ 16.1 million, while Etphereum ETPs experienced $ 912.4 million in exits. The institutional interest coincided with the growth of Solana in its defi ecosystem.
Lid data shows that Solana crossed $ 13 billion in total value blocked for the first time on September 12.
This backdrop provided a fundamental support for a price advance that raised sun by 20% in September. On September 12, Sol grew 5.5% to reach a maximum of $ 241.84, its highest price level since January 30.