Important points
- The Bitwise Solana staking ETF reached $10 million in trading volume within the first 30 minutes.
- Bitwise’s Solana product showed stronger initial demand than other crypto ETFs.
Bitwise's Solana Staking ETF (BSOL) began trading on Tuesday with strong demand, with trading volume reaching $10 million in the first 30 minutes, Bloomberg ETF analyst Eric Balchunas reported.
By comparison, Canary's HBAR ETF (HBR) and Litecoin ETF (LTCC) hit $4 million and $400,000 during the same period.
Early trading activity suggests there are varying levels of investor interest in the new cryptocurrency-focused exchange-traded fund, with Bitwise's Solana product seeing the strongest initial demand of the three new products.
The launch follows the recent approval of various crypto ETFs, despite limited operational capacity due to the government shutdown.
Grayscale's Solana Trust will be converted to an ETF tomorrow.
