Solana adds $4 billion in a day as first U.S. SOL ETF goes live

Key Points

1. Solana's market capitalization rose to $81.58 billion, up from $77.63 billion the previous day, with its price trading at $152.71 after gaining more than 3% on the day and approximately 7% over the past week.

2. The REX Osprey Solana Staking ETF, launched on July 2, generated around $8 million in trading volume within 20 minutes of its debut, providing direct exposure to Solana and staking rewards.

3. The ETF allocates roughly 80% to spot SOL holdings, with over half staked to generate on-chain yield, offering annual returns between 7% and 7.3%.

4. The U.S. SEC is reviewing additional Solana ETF applications from major financial firms, with analysts estimating a 95% chance of at least one Solana ETF being approved by the end of 2025.

5. The ETF's approval was facilitated by its legal structure as a C-corporation under the Investment Company Act of 1940, allowing it to navigate regulatory hurdles.