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The new Bitwise Solana Staking ETF (BSOL) shocked the markets on Tuesday, recording $56 million in trading volume on its first day.<\/p>\n
This milestone makes it the best ETF launch of 2025, not just in crypto but among more than 850 U.S. ETFs launched this year.<\/p>\n
According<\/a> to Bloomberg analyst Eric Balchunas,\u00a0BSOL\u2019s $56 million in first-day volume was the highest <\/span>in 2025, beating the launches of about 850 other new funds, including the REX-Osprey XRP ETF (XRPR).<\/p>\n For comparison, on its first day, September 18, XRPR raised $37.7 million, with $24 million coming<\/a> within its first hour and a half. Additionally, within five weeks, it had more than $100 million in assets under management. BSOL\u2019s final figure outpaced XRPR\u2019s debut returns by more than $18 million, and strong investor confidence was anticipated even before trading began. Balchunas had predicted<\/a> it would hit $52 million on its opening day, which was only $4 million shy of the eventual amount.<\/p>\n Bitwise Asset Management launched BSOL on Nasdaq under the Securities Act of 1933. This gave investors direct access to SOL with staking rewards of about 7% and no management fees for a limited time.<\/p>\n The launch was part of a group of three new crypto funds<\/a>. The other two were ETFs for Hedera (HBAR) and Litecoin (LTC), which saw first-day volumes of $8 million and $1 million, respectively.<\/p>\n These new funds reached the market thanks to an automatic legal provision that allowed their registrations to proceed without manual sign-off from the Securities and Exchange Commission (SEC), which was especially helpful because parts of the U.S. government are currently shut down.<\/p>\n Meanwhile, Grayscale confirmed that its Solana Trust (GSOL) would convert into an ETF on October 29, further expanding investor options around the Solana ecosystem.<\/p>\n Following BSOL\u2019s debut, Solana\u2019s market performance was mixed. As of this writing, the asset is trading at about $195, down 2.3% over the last 24 hours. However, it has risen 5.1% over the last week, suggesting that while the ETF news didn\u2019t cause an immediate price jump, it may have contributed to positive mid-term sentiment toward the asset.<\/p>\n Some analysts say the strong ETF debut could spark interest from more institutional investors, helping keep prices stable in the short term. SOL has dropped 7.1% in the last 30 days, but it is up a modest 7.6% over the past year. Still, its daily trading volume of $7.7 billion and a market cap of $107 billion make it one of the more liquid and actively traded cryptocurrencies in the market.<\/p>\n The post BSOL ETF Crushes XRP Debut with Record $56M First-Day Volume<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\nSOL Price Action and Market Outlook<\/h2>\n
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