Solana ETFs Could See $3 Billion Inflows Mirroring Bitcoin, Ethereum ETF Trends

Newswire Style (Bloomberg/Reuters)

First U.S. Spot Solana, Hedera, and Litecoin ETFs Begin Trading Under ‘33 Act Structure
October 28, 2025

The first U.S. spot exchange-traded funds (ETFs) for Solana (SOL), Hedera (HBAR), and Litecoin (LTC) launched Tuesday, offering investors new regulated exposure to crypto assets beyond bitcoin and ether.

The products debuted under the Securities Act of 1933, the same structure used for commodity-based ETFs, allowing issuers to bypass daily portfolio disclosures and board requirements typical of funds under the Investment Company Act of 1940.

According to Bloomberg Intelligence analyst James Seyffart, the Solana ETF could attract more than $3 billion in inflows over the next 12 to 18 months if it mirrors the performance of bitcoin and ether ETFs. “Solana’s market cap is roughly 5% of bitcoin’s and 22% of Ethereum’s,” Seyffart said. “If that ratio holds, flows could exceed $3 billion.”

Bitwise’s Solana ETF (BSOL) listed on the New York Stock Exchange, recording $10 million in early trading volume. On the Nasdaq, Canary Capital’s Hedera ETF (HBR) and Litecoin ETF (LTCC) saw $4 million and $400,000 in turnover, respectively.

Bloomberg’s Eric Balchunas projected end-of-day volumes of $52 million for BSOL, $8 million for HBR, and $7 million for LTCC. CoinDesk Indices provides benchmark pricing for the latter two funds.

For comparison, spot bitcoin ETFs generated $628 million in day-one inflows across multiple issuers, while ether ETFs saw $106 million. Tuesday’s launches each involved a single issuer, with Grayscale’s Solana Trust expected to begin ETF trading on Wednesday.

Seyffart said HBAR and LTC ETFs will likely see smaller flows given their market caps of 8% and 7% of Solana’s, respectively.