Trading Volume for Spot ETFs Based on Solana, Litecoin, and Hedera Amounted to Nearly $68M
- On October 28, three new spot cryptocurrency ETFs — BSOL, LTCC and HBR — entered the market.
- The total trading volume on them amounted to almost $68 million.
- The Solana-based fund prevails in terms of performance.
- Eric Balchunas stated that in the case of BSOL, this is the best debut in 2025.
On October 28, 2025 spot exchange traded funds (ETFs) based on Solana, Litecoin and Hedera debuted on the market, according to SoSoValue. Their total trading volume on the first day totaled $67.92 million, with BSOL accounting for most of it.
As a reminder, we previously wrote about these products being launched on Tuesday. The NYSE exchange, where they are traded, has filed a corresponding application with the SEC.
These products posted the following results on the first day:
- BSOL (a Bitwise company). Net capital inflow — $69.45 million. Trading volume — $57.91 million;
- LTCC (Canary Capital company). Trading volume — $1.38 million, no data on net inflow of funds;
- HBR (Canary Capital company). Volume of trades — $8.63 million, no data on net inflow of funds.
Bloomberg Intelligence expert Eric Balchunas commented on the launch of the funds. He also shared the forecast of the trading volume — $52 million, $7 million and $8 million, respectively.
Note that in July 2025, the first spot Solana-ETF, from REX Shares and Osprey Funds, entered the U.S. market. This product is structured differently than BSOL, which bypassed the lengthy application process.
This product saw net inflows of about $12 million on the first day. The lower performance is likely due to the fund’s different fund specification than the existing spot bitcoin and Ethereum-ETFs.
BSOL also provides for asset-stacking of the trust. According to the filing, the company intends to use up to 100% of the funds under management for this activity.
According to him, it is the best debut among all exchange-traded funds launched in 2025.
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