REX-Osprey Solana ETF Soars Past $200M Milestone as SOL Hits Seven-Month High
Solana's institutional adoption hits new stride as REX-Osprey's ETF cracks the $200 million barrier—just as SOL prices punch through their highest level since February.
The ETF Momentum
Investors are piling into Solana exposure without the technical headaches of self-custody. The REX-Osprey product offers a regulated gateway—and it's clearly resonating. Assets under management have now surged past $200 million.
SOL's Resurgence
Solana itself isn't just sitting pretty. The token just notched a seven-month peak, riding a wave of renewed developer activity and bullish derivative positioning. No surprise—the ETF's timing looks shrewd.
Wall Street's Crypto Cravings
Traditional finance keeps hungry for crypto yield—even if half these suits still can't explain the difference between a validator and a vaporware roadmap. But hey, when the inflows roll in, nobody questions the mechanics.
Bottom line: Solana’s proving it’s more than just an Ethereum rival—it’s becoming an asset class of its own. Whether that lasts? Well, in crypto, seven months is basically a lifetime.
Shifting tides
However, institutional sentiment shifted in late August, following announcements about corporate Solana treasury strategies.
Galaxy Digital, Multicoin Capital, and Jump crypto announced they were pursuing $1 billion to assemble a Solana treasury through a public company vehicle, with Cantor Fitzgerald serving as lead banker.
The companies committed cash and stablecoins to Forward Industries, which closed a $1.65 billion private placement on Sept. 11.
In addition, SOL Strategies secured Nasdaq approval to begin trading on Sept. 9 as a Solana-first investment vehicle.
Institutional flows
Institutional flows reflected the momentum shift. Solana exchange-traded products (ETPs) registered $177 million in inflows during the week of Aug. 25-29, representing the largest altcoin FLOW excluding Ethereum.
The first week of the month saw Solana products dominate altcoin flows with $16.1 million, while Ethereum ETPs experienced $912.4 million in outflows. The institutional interest coincided with Solana’s growth in its DeFi ecosystem.
DefiLlama data shows that Solana crossed $13 billion in total value locked for the first time on Sept. 12.
This backdrop provided fundamental support for a price advance that lifted SOL by 20% in September. On Sept. 12, SOL grew 5.5% to reach a $241.84 high, its highest price level since Jan. 30.
