The launch of new cryptocurrency ETFs has had a clear star: the Bitwise Solana Staking ETF (BSOL).
With a volume of $56 million on its first day, BSOL alone generated the highest trading volume of all new ETFs launched this year.
In total, three new funds, including the first spot ETFs for Litecoin (LTCC) and Hedera (HBR), added up to a volume of $65 million.
In their first hour of trading, BSOL, HBR, and LTCC recorded trading volumes of $10 million, $4 million, and $400,000, respectively, according to Eric Balchunas, ETF analyst at Bloomberg.
This strong performance, especially in the case of BSOL, highlights institutions' keen interest in staking reward models and specific exposure to Solana, surpassing the recent debut of XRP and Dogecoin spot ETFs.