Bitwise’s Solana ETF Saw $56 Million in First-Day Trading, Best in 2025
The Solana ETF hit US markets at the moment, and it proved immensely profitable. Bitwise’s product noticed $56 million in day-one buying and selling quantity, making a bigger splash than 850+ ETFs launched in 2025.
However, SOL’s precise token value has really declined at the moment on account of different elements. Although the upcoming altcoin ETFs could grow to be profitable funding alternatives, underlying market traits nonetheless look bearish.
Solana ETF Goes Live
The prospect of a Solana ETF has stirred market expectations for months, however the precise launch occurred in murky circumstances. After months of false starts and regulatory confusion, the group had a blended response when analysts claimed trading was about to start.
Nonetheless, the primary Solana ETFs went reside on the markets at the moment, and their baptism by fireplace proved extraordinarily profitable:
Corporate traders have been pouring money into crypto ETFs, and the brand new Solana merchandise are not any exception.
Eric Balchunas, a Bloomberg analyst, claimed that Bitwise’s product had the strongest launch of any ETF in 2025. This consists of ETFs based on XRP and non-token-based merchandise alike; round 850 new belongings in whole.
No Gains for SOL
In different phrases, this Solana ETF has been an outstanding success. Bitwise’s product fully eclipsed HBAR and Litecoin ETFs, seeing $56 million in whole quantity in comparison with $8 and $1 million, respectively. Nonetheless, nevertheless, anticipated gains for Solana have but to materialize:
This discrepancy between the ETF efficiency and precise curiosity in Solana is greater than a little bit worrying. SOL’s value didn’t simply ignore the information; it really decreased considerably.
Analysts counsel that a long squeeze is happening between long-term holders and leverage performs, which can be inflicting these doldrums. Still, it appears extremely bearish that the Solana ETF’s breakout success didn’t affect these dynamics.
The first BTC ETFs introduced runaway success for Bitcoin, probably altering its value cycles without end. If altcoin merchandise don’t have an analogous impression, nevertheless, it’s going to problem a number of very important assumptions.
In different phrases, this looks like one thing of a blended blessing. The Solana ETF has lastly reached US markets, and the urge for food could be very sturdy. For the time being, although, retail SOL holders may not reap any of the rewards.
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