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First U.S. Altcoin ETFs Debut as Bitwise’s Staked Solana Fund Leads on Volume

Using the SEC’s new generic standards with Form 8‑A mechanics, the funds listed during the government shutdown.

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Altcoin ETFs go live on NYSE! Solana, Litecoin, and Hedera make history
Solana, Hedera, and Litecoin ETFs debut — Here’s how the market reacted

Overview

  • Bitwise’s Solana Staking ETF (BSOL) began trading Oct. 28 on the NYSE, pairing spot SOL exposure with an in‑fund mandate targeting 100% staking.
  • BSOL opened with roughly $220–223 million in assets, recorded about $56 million in first‑day trading volume, and drew an estimated $69.5 million in net inflows.
  • Canary Capital’s spot Litecoin and Hedera ETFs started the same day on Nasdaq with far smaller activity, logging roughly $1 million and $8 million in day‑one volume, respectively.
  • The launches relied on the SEC’s September generic listing standards and Exchange Act Form 8‑A registrations, enabling listings without conventional 19b‑4 approvals during the shutdown.
  • Grayscale’s conversion of its Solana trust to an ETF was reported to list on Oct. 29 as the new products expand U.S. spot crypto ETFs beyond Bitcoin and Ethereum; BSOL charges 0.20% with a temporary fee waiver and uses Coinbase Custody.