- Three ETFs tracking Solana, Litecoin, and Hedera launched on Wall Street, generating US$65 million (AU$98.5 million) in first-day trading volume.
- Bitwise’s Solana Staking ETF led with US$56 million (AU$84.9 million), supported by its 7% yield model and zero-fee launch period.
- The ETF wave highlights growing institutional interest, with over 150 crypto ETF filings pending and JPMorgan forecasting US$6 billion inflows.
Three new cryptocurrency exchange-traded funds (ETFs) tracking Solana, Litecoin, and Hedera began trading on Wall Street on 28 October, generating a combined US$65 million (AU$98.5 million) in first-day trading volume. The launches mark a significant step for altcoins as investors diversify beyond Bitcoin and Ethereum.
Bitwise’s Solana Staking ETF (BSOL), the first US ETF to offer 100% direct exposure to Solana, was the clear frontrunner, accounting for US$56 million (AU$84.9 million) in turnover – the highest opening-day volume of any ETF debut in 2025. Within the first hour, BSOL had already seen US$10 million (AU$15.2 million) in trades, while Canary Capital’s HBAR ETF recorded US$4 million (AU$6.1 million) and its Litecoin ETF about US$400,000 (AU$606,000).
BSOL’s strong start was underpinned by its staking model, which uses Helius Labs’ on-chain infrastructure to generate around 7% annual yield. Bitwise introduced a zero-fee incentive lasting three months or until the fund reaches US$1 billion (AU$1.52 billion) in assets under management, aiming to attract institutional investors.
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A New Era for Regulated Crypto Funds
The Hedera and Litecoin funds, both managed by Canary Capital, became the first ETFs to offer direct spot exposure to those tokens following regulatory clearance after earlier government-related delays. Gregg Bell from the Hedera Foundation described the milestone as a “new chapter” for regulated crypto access.
The wave of ETF approvals reflects a broader surge in institutional interest. As of 20 October, more than 150 crypto ETF filings were awaiting US Securities and Exchange Commission review, covering 35 digital assets. Analysts expect the momentum to continue, with JPMorgan projecting up to US$6 billion (AU$9.1 billion) in inflows for Solana ETFs in their first year.
Related: Citi and Coinbase Join Forces to Power 24/7 Digital Asset Payments for Institutions
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