Key Takeaways
- The Bitwise Solana staking ETF reached $10 million in trading volume within its first 30 minutes.
- Bitwise’s Solana product showed stronger initial demand than other crypto ETFs.
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Bitwise’s Solana staking ETF (BSOL) opened to strong demand on Tuesday, with $10 million in trading volume in its first 30 minutes, Bloomberg ETF analyst Eric Balchunas reported.
In comparison, Canary’s HBAR ETF (HBR) and Litecoin ETF (LTCC) posted $4 million and $400,000 during the same window.
The early trading activity suggests varying levels of investor interest in the new crypto-focused exchange-traded funds, with Bitwise’s Solana product seeing the strongest initial demand among the three new offerings.
The launch follows the recent approvals of various crypto ETFs, despite limited operational capacity due to the government shutdown.
Grayscale’s Solana Trust is expected to convert into an ETF tomorrow.