Asset manager Bitwise says its Solana staking exchange-traded fund has tallied $55.4 million in trading volume on its debut trading day on Tuesday, alongside the launch of two other altcoin ETFs from Canary Capital.
The trading volumes on the Bitwise Solana Staking ETF (BSOL) were the largest out of all crypto ETFs launched in 2025, Bloomberg ETF analyst Eric Balchunas said on Tuesday, beating out the launches of XRP (XRP) and Solana (SOL) staking ETFs from REX Osprey.
BSOL attracted around $223 million in assets prior to launch, which Balchunas said signaled increasing institutional engagement and confidence in being exposed to staking, rewards for those who lock up cryptocurrency on the blockchain to validate transactions.
Wall Street’s appetite for crypto has expanded beyond market leaders Bitcoin (BTC) and Ether (ETH) as asset managers now eye launching exchange-traded products tied to riskier cryptocurrencies or featuring novel mechanisms such as staking.
BSOL beats predictions
BSOL’s $55.4 million trading volume surpassed Balchunas’ pre-launch estimate of $52 million, while the Canary Capital HBAR ETF (HBR) closed its debut trading day at $8 million, also matching the analyst’s prediction.
The Canary Capital Litecoin ETF (LTCC) saw $1 million, below Balchunas’ estimate of $7 million.
Ether ETFs outshine for altcoin fund debut
BSOL’s debut trading volume was, however, a fraction of the $1.08 billion in trading volume noted by the nine spot Ether ETFs that launched last July, the first of the altcoin funds to launch in the US.
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Grayscale’s converted Ethereum ETF Trust accounted for $458 million of that tally, while the BlackRock-issued iShares Ethereum Trust ETF raked in $248.7 million.
Bitwise’s spot Ether ETF product also saw $94.3 million, considerably higher than how its Solana product fared today.
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