Rex-Osprey Solana ETF (SSK) exceeded $ 200 million in cumulative flows for the first time on September 11, in the middle of a high solara price action (soil).
Trading under Ticker SSK, the fund had difficulty adopting in its first months, recording zero activity on four of the six days of negotiation until August 8, according to Farside Investors data.
The model reflected a broader institutional hesitation towards investment products focused on Solana compared to Bitcoin and Ethereum alternatives.
Analysts attributed slow start to structural complexity rather than requiring deficiencies.
In addition, the fund operates outside of standard dry-registered and stocus spots, incorporating allocation mechanisms and Offshore ETF allowances that differentiate it from traditional cryptocurrency products.
At 0.75% per year, SSK management fees at the upper end of Crypto ETF expenditure ratios compared to the main Bitcoin and Ethereum funds invoiced from 0.15% to 0.25%.
Changing tides
However, the institutional feeling moved at the end of August, following announcements on the strategies of the Treasury of the company Solana.
Galaxy Digital, Multicoin Capital and Jump Crypto announced that they were pursuing $ 1 billion to assemble a Solana treasure through a public company vehicle, Cantor Fitzgerald serving as a main banker.
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Companies committed species and stablecoins to transmit industries, which closed a private placement of $ 1.65 billion on September 11.
In addition, Sol Strategies obtained NASDAQ approval to start negotiating on September 9 as a Solana-First investment vehicle.
Institutional flow
Institutional flows reflected the change of momentum. The products negotiated in exchange (ETP) of Solana recorded $ 177 million on entry during the week of August 25 to 29, representing the largest flow of Altcoin to the exclusion of Ethereum.
The first week of the month saw Solana products dominate Altcoin flows with $ 16.1 million, while Ethereum ETPS experienced $ 912.4 million outings. Institutional interest has coincided with Solana’s growth in its Defi ecosystem.
Defillama data show that Solana has crossed $ 13 billion in total value locked for the first time on September 12.
This backdrop provided fundamental support for a price advance that lifted 20% in September. On September 12, Sol increased by 5.5% to a level of $ 241.84, its highest price level since January 30.
