Solana Slips Even As Spot ETF Posts Strong Volume On First Day: Litecoin, HBAR Fail To Impress Wall Street
Aniket Verma 1 year ago
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Hedera, Solana and Litecoin struggled to gain momentum following the debut of their first spot exchange-traded funds on Wall Street on Tuesday.
Hedera, Solana and Litecoin struggled to gain momentum following the debut of their first spot exchange-traded funds on Wall Street on Tuesday.
Bullish Sentiment Fades
SOL, the sixth-largest cryptocurrency by market capitalization, fell over 3% in the last 24 hours, with trading volume jumping 25%.
Proof-of-work token LTC fell 2.85%, while HBAR, which had been gaining momentum ahead of its ETF debut, also delivered an underwhelming performance.
| Cryptocurrency | Gains +/- % | Price (Recorded at 10:30 p.m. ET) |
| Solana (CRYPTO: SOL) | -3.23% | $194.63 |
| Litecoin (CRYPTO: LTC) | -2.85% | $96.93 |
| Hedera (CRYPTO: HBAR) | -1.04% | $0.1938 |
See Also: Western Union To Enter Crypto Market With Solana-Powered Stablecoin Launch In 2026
A Cold Debut For ETFs
The dip come despite the Wall Street debut of the ETFs tracking the prices of these cryptocurrencies.
Bitwise introduced the Bitwise Solana Staking ETF (NYSE:BSOL), offering investors exposure to Solana’s growth potential while earning its 7%+ average staking yield. The ETF clocked $56 million in trading volume on its first day, the most in 2025, according to Bloomberg ETF analyst Eric Balchunas.
$BSOL's $56m is the MOST of any launch this year.. More than $XRPR, $SSK, Ives and $BMNU. And what's amazing is it seeded with $220m. It could have invested seed on Day One, which would have resulted in $280m-ish, would be even more than $ETHA's debut. Strong start either way.
— Eric Balchunas (@EricBalchunas) October 28, 2025
The other two altcoin ETFs saw tamer demand in comparison, with the Canary HBAR ETF (NASDAQ:HBAR) and Canary Capital’s Litecoin Spot ETF (NASDAQ:LTCC) closing the day with $8 million and $1 million in volume, respectively.
Price Action: Litecoin ETF fell 1.57% after-hours after closing 4.78% lower at $24.13 during Tuesday’s regular trading session, according to data from Benzinga Pro.
HBAR ETF fell 1.19% after-hours after closing down 5.70% to $27.09 in the regular session. Bitwise’s SOL ETF, meanwhile, rose 0.08% in the after-hours period following a 3.58% dip during the regular trading hours.
Photo Courtesy: CryptoFX on Shutterstock.com
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