Investor interest and meme coins fuel Solana’s rapid growth

Solana’s price has surged past $185, hitting its highest since late May. Over the past few weeks, the cryptocurrency has soared 86% from its yearly low. The rally gained momentum after breaking through a key resistance level, drawing in new investors.

One key driver behind the surge is a new investment product—the REX Osprey SOL + Staking ETF. The recently launched fund has already attracted nearly $100 million and continues to see steady weekly inflows. What sets it apart is that investors benefit not only from Solana’s price growth but also from monthly staking rewards, which average around 7.5% annually.

The fund has allocated 58% of its holdings to Solana and 41% to its European counterpart—the 21Shares Solana Staking ETP. The remainder of the portfolio is held in cash and government bonds. For US investors, this fund represents one of the first regulated ways to gain exposure to the cryptocurrency’s growth while earning additional yield.

Moreover, Solana's rally has been fueled by meme coins on its blockchain. Their total market cap has surpassed $15 billion, driving even more interest in the network.