Spot ETFs Based on Solana, Litecoin, and Hedera Reported Nearly $68 Million in Initial Trading
Date: 2025-10-29 Author: Henry Casey Categories: CRYPTO PAYMENTS
On October 28, 2025, three new spot ETFs launched: BSOL, LTCC, and HBR, based on Solana, Litecoin, and Hedera, respectively. According to SoSoValue, total trading volume on the first day reached $67.92 million, with BSOL, a Solana-linked fund, accounting for over 80% of that volume.
Trading is taking place on the NYSE, which has filed with the SEC in advance for approval to launch these new products. Bitwise's BSOL demonstrated the most impressive results on its first day, with trading volume reaching $57.91 million and net capital inflows reaching $69.45 million. LTCC and HBR, managed by Canary Capital, recorded $1.38 million and $8.63 million, respectively, but inflow data for these funds is not yet available.
Bloomberg Intelligence expert Eric Balchunas noted that BSOL had the best debut of all ETFs launched in 2025. According to his preliminary forecasts, trading volume for these funds was expected to reach $52 million for BSOL, $7 million for HBR, and $8 million for LTCC, but reality exceeded expectations.
By comparison, the first spot Solana ETF, from REX Shares and Osprey Funds, launched on the US market in July 2025. Its structure differed from current products, allowing for a faster approval process. Back then, net capital inflow on the first day was approximately $12 million—a significantly more modest result than BSOL. Analysts suggest that such strong interest in the new fund is due not only to its more transparent structure but also to the asset staking option.
Bitwise indicated in its filing that up to 100% of assets under management can be used for staking, making the product particularly attractive to investors seeking additional income from token ownership.
Balchunas also emphasized that the ETF provider provided BSOL with $220 million in initial liquidity. If these funds had been fully utilized on the trading day, the total volume could have reached $280 million—a figure exceeding even the debut of ETHA, BlackRock's Ethereum spot ETF.
Thus, BSOL's successful launch demonstrates growing institutional investor interest in alternative crypto assets beyond Bitcoin and Ethereum. This event could serve as an important signal for the further expansion of the crypto ETF portfolio on traditional exchange platforms.
