Asset manager Bitwise has reported that its Solana Staking Exchange-Traded Fund (BSOL) recorded $55.4 million in trading volume on its first day of trading, making it the most actively traded crypto ETF debut of 2025.
The BSOL launch coincided with two other altcoin ETFs introduced by Canary Capital, focusing on Hedera (HBAR) and Litecoin (LTC).
According to Bloomberg analyst Eric Balchunas, Bitwise’s Solana ETF outperformed both in volume and investor enthusiasm.
Institutional Interest in Staking Grows
Before its official launch, BSOL had already attracted $223 million in assets under management.
Balchunas said this showed growing institutional confidence in staking — a process that rewards investors for locking up their tokens to validate transactions on the blockchain.
Wall Street’s appetite for crypto products has expanded beyond Bitcoin and Ethereum, with fund managers increasingly experimenting with products tied to emerging digital assets.
Performance Beats Analyst Estimates
BSOL’s trading volume exceeded Balchunas’ pre-launch forecast of $52 million.
By comparison, Canary Capital’s HBAR ETF closed its first day with $8 million in trades, while the Litecoin ETF reached just $1 million, falling short of expectations.
Comparison With Ether ETF Launches
Despite the strong debut, BSOL’s activity was still modest compared to the launch of the nine spot Ether ETFs last July, which collectively saw $1.08 billion in trading volume on their first day.
Much of that volume stemmed from Grayscale’s converted Ethereum Trust, which accounted for $458 million, while BlackRock’s iShares Ethereum Trust captured $248.7 million.
Bitwise’s own spot Ether ETF recorded $94.3 million on launch day — significantly higher than its Solana product’s initial performance.
The debut of BSOL nonetheless underscores investor appetite for diversification beyond traditional crypto leaders, highlighting Solana’s growing presence in institutional portfolios.
