Crypto Media Style (CoinDesk/The Block)
Solana, Hedera, and Litecoin ETFs Launch in U.S., Opening New Phase of Crypto Access
October 28, 2025
Investors in the U.S. now have access to spot ETFs tracking Solana (SOL), Hedera (HBAR), and Litecoin (LTC) — a milestone that expands regulated exposure beyond bitcoin and ether.
The three funds — Bitwise’s BSOL, Canary Capital’s HBR, and LTCC — began trading Tuesday under the Securities Act of 1933, a structure used for commodity-style ETFs that allows issuers to avoid daily holdings disclosures and board oversight.
According to Bloomberg Intelligence’s James Seyffart, Solana’s ETF could draw over $3 billion within its first year if flows follow patterns seen in BTC and ETH ETFs. “Solana’s market cap sits around 5% of bitcoin’s and 22% of Ethereum’s,” he said. “That could translate to roughly $3 billion in inflows if investor behavior repeats.”
Bitwise’s Solana ETF traded $10 million in its first 30 minutes, while Canary Capital’s Hedera and Litecoin ETFs logged $4 million and $400,000, respectively, according to Bloomberg’s Eric Balchunas. He expects BSOL to close with $52 million in volume, while HBR and LTCC should end near $8 million and $7 million.
CoinDesk Indices provides benchmark pricing for HBR and LTCC.
For context, spot bitcoin ETFs attracted $628 million in first-day flows, while ether ETFs saw $106 million. Though Tuesday’s rollout featured only one issuer per asset, Grayscale’s Solana Trust is set to list as an ETF on Wednesday.
Seyffart said demand for Hedera and Litecoin will likely be smaller, citing their 8% and 7% market cap size relative to Solana.
