REX-Osprey Solana ETF “Healthy Start” Leads To Record Demand For SOL CME Futures

The first Solana staking ETF (exchange-traded fund) closed its debut trading session yesterday with around $33 million trading volumes and $12 million inflows, triggering a surge in CME futures demand.

“Healthy start to trading for a new ETF with ~$8 million in trading in first 20 min,” said Bloomberg ETF analyst James Seyffart in a July 2 X post while commenting on REX-Osprey Solana + Staking ETF’s debut performance. His colleague, Eric Balchunas, also said that the ETF’s trading volumes on its first day placed it in the “top 1% for a new launch.”

Solana ETF

REX-Osprey ETF “Blows Away” SOL And XRP Futures ETFs In First-Day Volumes

Balchunas went on to say that the REX-Osprey Solana ETF managed to post first-day volumes much greater than those of futures ETFs for SOL and XRP.

Despite outperforming SOL and XRP futures, the REX-Osprey fund still posted “much lower” debut volumes than spot Bitcoin (BTC) and Ethereum (ETH) ETFs, according to Balchunas.

US-listed spot Bitcoin ETFs recorded $4.6 billion worth of volume collectively when they started trading in January last year. 

Solana CME Futures See Record Demand

Following the launch of the REX-Osprey Solana ETF, SOL CME futures saw “record demand,” an indication of rising institutional interest, according to SolanaFloor. 

In an X post yesterday, SolanaFloor said that open interest for SOL CME futures hit $167 million. 

The Solana price reacted positively to the launch of the first SOL staking ETF and the soaring CME futures demand, registering a more than 4% gain in the past 24 hours, CoinMarketCap data shows. SOL traded at $155.43 as of 2:34 a.m. EST, with its weekly gain now standing at over 7% following the 24-hour uptick.

Despite the recent increase, the Solana price is still down over 47% from its all-time high (ATH) of $294.33 that is set on Jan. 19. 

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