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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 <a href="https://x.com/EricBalchunas/status/1983265686991581385" rel="noopener noreferrer nofollow" target="_blank">said</a> on Tuesday, beating out the launches of XRP (<a href="/xrp-price-index" rel="noopener noreferrer">XRP</a>) and Solana (<a href="/solana-price-index" rel="noopener noreferrer">SOL</a>) staking ETFs from REX Osprey.
BSOL attracted around <a href="https://cointelegraph.com/news/bitwise-solana-staking-etf-223m-launch-inflows" rel="noopener noreferrer nofollow">$223 million in assets</a> prior to launch, which Balchunas said signaled increasing institutional engagement and confidence in being exposed to <a href="https://cointelegraph.com/learn/articles/defi-staking-proof-of-stake-pos-coins?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">staking</a>, rewards for those who lock up cryptocurrency on the blockchain to validate transactions.
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a2cfb-4cc3-78e8-8fab-8a317226dcd6" title="" alt="Bitwise Solana Staking ETF notches $55M trading volume on debut">
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 Source: <a href="https://x.com/EricBalchunas/status/1983264920935510195" rel="noopener noreferrer nofollow" target="https://x.com/EricBalchunas/status/1983264920935510195">Eric Balchunas</a>
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Wall Street’s appetite for crypto <a href="https://cointelegraph.com/explained/how-xrp-s-legal-victory-turned-it-into-wall-street-s-favorite-crypto" rel="noopener noreferrer nofollow">has expanded</a> beyond market leaders Bitcoin (<a href="/bitcoin-price" rel="noopener noreferrer">BTC</a>) and Ether (<a href="/ethereum-price" rel="noopener noreferrer">ETH</a>) as asset managers now eye launching exchange-traded products tied to riskier cryptocurrencies or featuring novel mechanisms such as staking.
<h2 id="bsol-beats-predictions">BSOL beats predictions</h2>
BSOL’s <a href="https://x.com/BitwiseInvest/status/1983271357162107018" rel="noopener noreferrer nofollow" target="_blank">$55.4 million</a> trading volume surpassed Balchunas’ pre-launch <a href="https://x.com/EricBalchunas/status/1983264920935510195" rel="noopener noreferrer nofollow" target="_blank">estimate</a> 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.
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/019a2cfb-5044-7d20-b081-130ce5afdb5f" title="" alt="Bitwise Solana Staking ETF notches $55M trading volume on debut">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/BitwiseInvest/status/1983271357162107018" rel="noopener noreferrer nofollow" target="https://x.com/BitwiseInvest/status/1983271357162107018">Bitwise</a> 
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<h2 id="ether-etfs-outshine-for-altcoin-fund-debut">Ether ETFs outshine for altcoin fund debut</h2>
BSOL’s debut trading volume was, however, a fraction of the $1.08 billion in <a href="https://cointelegraph.com/news/no-blackrock-no-party-bitcoin-altcoin-etf" rel="noopener noreferrer nofollow">trading volume</a> noted by the nine spot Ether ETFs that launched last July, the first of the altcoin funds to launch in the US.
Related: <a href="https://cointelegraph.com/news/polymarket-us-trading-relaunch-november" rel="noopener noreferrer nofollow">Polymarket will likely start initial US relaunch in November: Report</a>
Mostly outflows from Grayscale’s converted Ethereum ETF Trust accounted for $458 million of that tally, while the BlackRock-issued <a href="https://cointelegraph.com/learn/articles/blackrock-ishares-ethereum-trust-etf-etha?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">iShares Ethereum Trust ETF </a>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.
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-kyle-chasse-venture-capitalist-youtube-strike-cointelegraph/" rel="noopener noreferrer nofollow">Bitcoin OG Kyle Chassé is one strike away from a YouTube permaban</a>

Bitwise Solana Staking ETF notches $55M trading volume on debut

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