HBAR and LTC ETFs launched alongside BSOL, but with far smaller day-one volumes, $8M and $1M, respectively.
The new Bitwise Solana Staking ETF (BSOL) shocked the markets on Tuesday, recording $56 million in trading volume on its first day.
This milestone makes it the best ETF launch of 2025, not just in crypto but among more than 850 U.S. ETFs launched this year.
A Record-Breaking Debut
According to Bloomberg analyst Eric Balchunas, BSOL’s $56 million in first-day volume was the highest in 2025, beating the launches of about 850 other new funds, including the REX-Osprey XRP ETF (XRPR).
For comparison, on its first day, September 18, XRPR raised $37.7 million, with $24 million coming within its first hour and a half. Additionally, within five weeks, it had more than $100 million in assets under management. BSOL’s final figure outpaced XRPR’s debut returns by more than $18 million, and strong investor confidence was anticipated even before trading began. Balchunas had predicted it would hit $52 million on its opening day, which was only $4 million shy of the eventual amount.
Bitwise Asset Management launched BSOL on Nasdaq under the Securities Act of 1933. This gave investors direct access to SOL with staking rewards of about 7% and no management fees for a limited time.
The launch was part of a group of three new crypto funds. The other two were ETFs for Hedera (HBAR) and Litecoin (LTC), which saw first-day volumes of $8 million and $1 million, respectively.
These new funds reached the market thanks to an automatic legal provision that allowed their registrations to proceed without manual sign-off from the Securities and Exchange Commission (SEC), which was especially helpful because parts of the U.S. government are currently shut down.
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Meanwhile, Grayscale confirmed that its Solana Trust (GSOL) would convert into an ETF on October 29, further expanding investor options around the Solana ecosystem.
SOL Price Action and Market Outlook
Following BSOL’s debut, Solana’s market performance was mixed. As of this writing, the asset is trading at about $195, down 2.3% over the last 24 hours. However, it has risen 5.1% over the last week, suggesting that while the ETF news didn’t cause an immediate price jump, it may have contributed to positive mid-term sentiment toward the asset.
Some analysts say the strong ETF debut could spark interest from more institutional investors, helping keep prices stable in the short term. SOL has dropped 7.1% in the last 30 days, but it is up a modest 7.6% over the past year. Still, its daily trading volume of $7.7 billion and a market cap of $107 billion make it one of the more liquid and actively traded cryptocurrencies in the market.
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