Solana (SOL) staking ETF surpasses 10 million dollars in trading volume in first 30 minutes of listing

JH Kim

Summary

Bitwise's Solana (SOL) staking ETF (BSOL) exceeded 10 million dollars in trading volume within the first 30 minutes of listing.
The ETF's trading activation is cited as the fastest liquidity inflow case among newly listed altcoin-based ETFs.
Market participants said the staking yield structure appealed to institutional investors, suggesting that altcoin-based ETFs are emerging as a full-fledged investment asset class.

Bitwise's Solana (SOL) staking exchange-traded fund (ETF) 'BSOL' exceeded 10 million dollars in trading volume within the first 30 minutes after listing. This is cited as the fastest liquidity inflow case among newly listed altcoin-based ETFs.

On the 28th (local time), crypto-focused media CryptoBriefing reported that the BSOL ETF showed active trading immediately after listing and recorded about 10 million dollars in trading volume within 30 minutes.

At the same time, the Canary Hedera (HBAR) ETF (HBR) recorded 4 million dollars, and the Litecoin (LTC) ETF (LTCC) recorded 400 thousand dollars in trading volume, respectively. All three securities began trading simultaneously on major U.S. exchanges that day.

Market participants said the rapid trading activation of the Solana ETF was "the result of a structure reflecting staking yields that proved attractive to institutional investors." This performance suggests that altcoin-based ETF products are emerging as a full-fledged investment asset class.