Bitwise's Solana ETF Sees Over $70 Million in Trading Volume on Second Day

BlockBeats News, October 30th, according to The Block, the United States' first Solana spot ETF — Bitwise Solana Staking ETF (ticker BSOL) — set a new record for the highest trading volume among nearly 850 new ETFs listed this year on its first day, and its performance was even stronger on the second day. BSOL's trading volume on Wednesday reached $72.4 million, further surpassing the record of $56 million on the first day. Bloomberg's Senior ETF Analyst Eric Balchunas wrote on X platform, "A trading volume of $72 million is very impressive and is a good sign." He also stated that the trading volumes of the Canary Litecoin ETF (LTCC) and the Canary HBAR ETF (HBR) were roughly comparable to those on Tuesday, at around $8 million and $1 million, respectively. Balchunas said that these figures are quite impressive and pointed out that the trading volume of most ETFs will decline after the hype of the first day.

In addition, Grayscale launched its Solana Staking ETF (GSOL), with a trading volume of around $4 million. Balchunas said, "It performed well, but obviously not as well as BSOL. Being listed just one day later had a huge impact, making the competition much more challenging." The REX Osprey Solana Staking ETF (SSK) also attracted around $18 million in funds on Wednesday.