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Solana (SOL) is experiencing a surge in capital inflows, partly driven by the launch of the first-ever U.S.-based spot staking Exchange-Traded Fund (ETF) for the asset. As of press time, Solana’s market capitalization stood at $81.58 billion, up from $77.63 billion the previous day, an increase of $3.95 billion. The asset’s price is also trending higher, trading at $152.71 after gaining more than 3% on the day and approximately 7% over the past week. Solana one-day market cap chart. Source: CoinMarketCap The bullish momentum was sparked by the launch of the REX Osprey Solana Staking ETF, which officially began trading on July 2 on the Chicago Board Options Exchange (CBOE). This fund is the first Solana-focused ETF in the United States and recorded around $8 million in trading volume within just 20 minutes of its debut, according to Bloomberg ETF analyst James Seyffart. https://twitter.com/JSeyff/status/1940407756051394680 Jointly launched by asset man...

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Traditional finance continues to pour capital into crypto, with Fidelity’s Ethereum ETF (FETH) recording a $25.7 million daily inflow on June 30, according to data from Farside Investors.  The purchase of 10,283.08 ETH follows a $28.9 million purchase on June 27, meaning Fidelity’s Ethereum ETF has received $1.69 billion in net inflows so far across its spot ETF product. Ethereum ETF inflows. Source: Farside Investors Institutional momentum builds These back-to-back inflows mark one of Fidelity’s most aggressive accumulation streaks to date. While flows into crypto ETFs can be volatile, two large purchases in less than 72 hours is seen by analysts as a strong signal of institutional conviction. BlackRock also joined the buying spree, adding $6.1 million to its ETHA ETF on June 30, after purchasing $48.1 million on June 27, BlackRock’s ETH ETF has attracted $5.52 billion in inflows since launch, the largest among all Ethereum ETF issuers so far. Crypto marke...