Bitwise’s Solana ETF Saw $56 Million in First-Day Trading, Best in 2025
Bitwise's Solana ETF achieved $56 million in first-day trading volume, marking the best launch of any ETF in 2025.Summary
Bitwise's Solana ETF successfully launched, recording $56 million in trading volume on its first day, which surpassed the launch performance of over 850 ETFs introduced in 2025, including those for HBAR ($8 million) and Litecoin ($1 million). Bloomberg analyst Eric Balchunas confirmed this was the strongest launch for any ETF this year. Despite this massive institutional interest reflected in the ETF's success, the underlying SOL token price declined significantly on the same day due to other market factors, possibly a long squeeze involving long-term holders and leverage plays. This discrepancy between the ETF's breakout success and the token's bearish movement challenges assumptions about how altcoin ETFs will impact their underlying assets, unlike the positive effect seen with the initial Bitcoin ETFs.
(Source：BeInCrypto)