Bitwise Solana ETF Nets $69.5M Debut; HBAR & LTC Stall
Bitwise’s new U.S. spot Solana ETF (BSOL) attracted $69.5 million in net inflows and $57.9 million in trading volume on its first day, marking the largest debut among over 800 ETFs launched this year. Analysts attribute its strong performance to direct SOL exposure and staking rewards, reflecting growing institutional demand for Solana via traditional market channels. By contrast, Canary Capital’s spot HBAR and Litecoin ETFs opened with trading volumes of $8.6 million and $1.4 million, respectively, but recorded no net inflows, underscoring the gulf between Solana’s robust technical infrastructure and the smaller ecosystems of HBAR and LTC. The record-setting launch of BSOL could set a benchmark for altcoin ETFs and signal a new wave of institutional capital into the sector, though not all tokens may replicate Solana’s traction.
Bullish
The strong debut of Bitwise’s spot Solana ETF, with $69.5M in net inflows and high trading volume, indicates substantial institutional interest and increased buying pressure for SOL. In the short term, this surge may drive SOL price higher as ETFs source and hold tokens. Over the long term, a successful benchmark ETF can attract more altcoin-focused products and capital, reinforcing Solana’s market position and liquidity. In contrast, the lack of inflows for HBAR and LTC ETFs highlights investor preference for Solana, suggesting limited immediate upside for those tokens.