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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.” 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. $SSK ended day with $33m in volume. Again, blows away the Solana futures ETF and XRP futures ETFs (or the avg ETF launch) but it is much lower than the Bitcoin and Ethe...

There’s now a 90% chance that the US Securities and Exchange Commission will approve a Solana ETF in 2025, up from 70% earlier this year, according to Bloomberg Intelligence. The estimate, shared on April 30 by Bloomberg ETF analysts Eric Balchunas, also raised the approval odds for several other altcoin ETFs, including Dogecoin, XRP, and Cardano. Six asset managers — including Grayscale, VanEck, and Bitwise — have filed to launch Solana ETFs. Bloomberg now gives remittance token XRP an 85% chance of approval, while Dogecoin and Cardano stand at 80% and 75%, respectively. Those figures are up from 65%, 75%, and slightly lower estimates earlier this year. Polkadot, Hedera, and Avalanche are also expected to receive approval, with odds above 70%. Litecoin remains at 90%, unchanged from Bloomberg’s February forecast. Balchunas believes the SEC may be treating many of these tokens as commodities, increasing their chances of approval. NEW: @EricBalchunas ...