Bitwise’s Solana ETF debuts with $69.5M inflows, while HBAR and Litecoin ETFs see no inflows on their first day.
Bitwise’s newly launched U.S. spot Solana ETF, BSOL, is making waves in the financial market with a remarkable debut that saw $69.5 million in net inflows on its first day. This impressive figure sets a new record for ETF launches in 2025 and showcases the growing interest in cryptocurrencies, particularly Solana.
Bitwise’s Solana ETF Enjoys Strong Debut
Launched on a Tuesday, the BSOL ETF harnesses the potential of the Solana blockchain, a platform known for its speed and scalability. On its inaugural day, BSOL not only attracted $69.5 million in net inflows but also recorded $57.9 million in trading volume—marks that represent the highest trading outcome for any ETF launch this year.
Bloomberg analyst Eric Balchunas remarked on the ETF’s success, stating that this launch demonstrates a robust interest in Solana, implying that confident investor sentiment is likely to continue. Notably, the BSOL ETF allows investors to gain direct exposure to Solana’s native cryptocurrency, SOL. Additionally, it features staking rewards, enhancing its appeal for those looking for potential passive income opportunities alongside their investment.
Final tally of Day One trading.. $BSOL: $56m$HBR: $8m$LTCC: $1m
I can’t believe how close I came. ETF sixth sense for the win. Wish there was a @Polymarket for this I’d be rich. https://t.co/TODOk13WUt— Eric Balchunas (@EricBalchunas) October 28, 2025
HBAR and Litecoin ETFs Struggle to Attract Interest
In stark contrast, the launch of Canary Capital’s spot ETFs for HBAR and Litecoin did not capture the market’s attention. Both funds opened to lackluster interest, with HBAR and Litecoin ETFs reporting trading volumes of only $8.6 million and $1.4 million, respectively, yet disappointing in terms of inflows, which remained at zero on their opening day. This indicates a significant divergence in market reception compared to the Solana ETF.
The absence of investor inflows for HBAR and Litecoin ETFs highlights a critical aspect of ETF dynamics: shares are created in response to market demand. The low investor interest in these two altcoins suggests a broader hesitance to support investments tied to smaller ecosystems. ETF analyst James Seyffart noted that such phenomena are not uncommon, frequently occurring when supply does not meet demand.
Okay too many questions about #Bitcoin ETFs and zero flows — a few quick thoughts:
1. On any given day, the vast majority of ETFs will have a flow number of ZERO — this is very normal. There are ~3,500 ETFs in the US. Yesterday 2,903 of them had a flow of exactly zero.
— James Seyffart (@JSeyff) April 16, 2024
The comparative performance of Solana against HBAR and Litecoin underscores the disparity in investor confidence surrounding various cryptocurrencies. While Solana seems to benefit from a strong technical foundation and growing market recognition, the lack of traction for HBAR and Litecoin casts a shadow on their perceived viability.
Outlook for Altcoin ETFs in the Future
The success of Bitwise’s Solana ETF signals a promising trajectory for altcoin-focused ETFs within the financial market. However, the lukewarm reception of HBAR and Litecoin ETFs serves as a reminder that not every altcoin will attract substantial investment or enthusiasm. Solana’s robust position stems from its technical advantages and broad user adoption, factors that may not hold true for others like HBAR and Litecoin, which may experience ongoing challenges in capturing investor interest.
As the landscape of altcoin ETFs continues to evolve, the prevailing market sentiment will undoubtedly play a significant role. The performance of Solana sets a notable precedent that has implications for future launches. Nonetheless, as evidenced by the contrasting fortunes of various ETFs, altcoins must work harder to carve out their niche in the competitive crypto investment arena.
