The first spot classified in the United States Solana Exchange Fund (ETF) received $ 21 million in net entries on July 8, which increases its total operating to $ 41.2 million, based on Farers investors data.
The addition of a day to the Solana + Staking ETF (SSK) of Rex-Osprey (SSK) 104% of the $ 20.2 million collected during the three previous negotiation sessions, effectively dwelting net entries.
Do not below the BTC and the ETH
SSK began to negotiate on July 2 with 0.75% management fees, triple the titles of 0.25% that BlackRock and Fidelity Levy on their Bitcoin (BTC) and Ethereum (ETH) products.
The comparison of the first four days of negotiation for each asset class reveals a disconnection between flows and market capitalization of underlying assets.
Bitcoin Spot ETF won around $ 2.9 billion in its first four sessions in January, or about 0.34% of the BTC market capitalization at the time.
The Ethereum Spot ETF has absorbed nearly $ 1.2 billion on their opening quartet at the end of June, or 0.3% of Ether’s market value once the Grayscale outputs are deleted, depending on the same set of data.
On the other hand, $ 41.2 million in Solana is equivalent to around 0.05% of the circulating soil supply, around 16.7% of the penetration level reached by the previous launches of Bitcoin and Ethereum.
Fresh drag and unique structure
One of the reasons for the divergence is the cost. The 0.75% Rex-Osprey direct debit is the highest among us, the FNB Crypto, while its seed inventory of only $ 600,000 suggests an authorized storage capacity of limited participants.
Fidelity and Blackrock launched their Bitcoin funds with seed baskets exceeding $ 300 million and remuneration hours that decreased to 0.12% and 0.20% in the first year.
In addition, Rex-Osprey remains the only emitter of Solana ETF, while nine transmitters participated in the beginnings of Bitcoin and eight Ethereum products.
While the small base and the higher expenditure ratio leave the early contribution of SSK below that of its large capitalization counterparts, the doubling of the fund on July 8 shows an additional appetite by beneficiaries not discouraged by the cost.
