On October 29, 2025, three new spot cryptocurrency ETFs—BSOL, LTCC, and HBR—made their market debut, collectively generating nearly $68 million in trading volume. The Solana-based BSOL fund led the activity, establishing itself as the standout performer of the day.
Bloomberg Intelligence analyst Eric Balchunas highlighted BSOL’s debut as one of the strongest ETF launches of 2025. According to SoSoValue data, the trading volumes on the first day were as follows:
- BSOL (Bitwise): $57.91M in trades, net capital inflow of $69.45M
- LTCC (Canary Capital): $1.38M in trades, net inflow data not reported
- HBR (Canary Capital): $8.63M in trades, net inflow data not reported
The NYSE, where these ETFs are listed, submitted the relevant filings to the U.S. Securities and Exchange Commission (SEC) prior to launch.
This launch follows the debut of the first U.S. Solana spot ETF in July 2025 from REX Shares and Osprey Funds, which had a different structure than BSOL, enabling it to bypass a longer approval process. That ETF attracted roughly $12M in net inflows on its first day, with lower trading volume likely due to its distinct structure compared to existing Bitcoin and Ethereum spot ETFs.
Notably, BSOL incorporates staking of trust assets, with up to 100% of the fund’s managed assets intended for staking activities according to its filings. Balchunas also pointed out that initial liquidity provision of $220M could have generated even higher trading volume on day one, potentially surpassing BlackRock’s Ethereum spot ETF debut.
Overall, the successful launch of these altcoin-focused ETFs signals growing institutional interest in Solana, Litecoin, and Hedera, marking a strong start for 2025 ETF activity.
