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.
“And what’s amazing is that it has $220 million [initial liquidity from the ETF provider] invested in it. The company could have invested on day one [after the trading launch], which would have brought in about $280 million in volume, and that would have been even more than the debut of ETHA [BlackRock’s spot Ethereum-ETF]. In any case, it’s a strong start,” Balchunas summarized.
According to him, it is the best debut among all exchange-traded funds launched in 2025.