Key Insights
- The SSK ETF is nearing $100 million in assets with consistent inflows and offers staking rewards, attracting strong institutional interest.
- Solana’s price broke above key resistance, and technical indicators suggest bullish continuation as it nears the $200 level.
- Meme coin activity on the Solana network has added momentum, with the related token market cap rising to $15 billion.
Solana’s price has advanced sharply as the newly launched REX-Osprey SOL + Staking ETF (SSK) attracted consistent inflows, pushing its assets under management to $99.7 million. The ETF is expected to cross the $100 million threshold this week if current trends continue. This momentum reflects growing institutional interest in Solana, driven in part by its staking structure that offers annual returns of approximately 7.5%.
The SSK ETF offers exposure to Solana while allowing investors to earn monthly staking rewards, making it appealing to those seeking both capital appreciation and income. Approximately 58% of the fund is allocated to direct Solana holdings, while 41% is invested in the 21Shares Solana Staking ETP listed in Europe. The remaining assets are held in cash and government securities.
Solana Price Jumps Above Resistance Levels
Solana’s price surged to $185, its highest level since late May. This marks an 86% increase from its yearly low. Technical indicators show the price recently broke above a symmetrical triangle pattern, a bullish sign. The Relative Strength Index (RSI) and MACD are also trending higher, suggesting continued buying pressure.
Solana’s rise is further supported by a wave of enthusiasm from the meme coin community. The total market capitalization of meme tokens built on the Solana blockchain recently reached $15 billion, contributing to the upward momentum.
Technical Outlook Points to More Upside
Technical analysis shows Solana is close to forming a golden cross, with the 50-day moving average nearing the 200-day average. This pattern is typically seen as a bullish signal in market analysis. Investors are now watching the $200 resistance level as the next key target.
Solana’s current rally reflects a combination of increasing institutional adoption through the SSK ETF and enthusiasm from the retail-driven meme coin segment. The unique staking features of the fund continue to attract capital, setting Solana apart in a competitive market for blockchain assets.
