On October 28, three highly anticipated crypto asset ETFs made their market debut: the Canary Litecoin (LTCC) and Canary HBAR (HBR) ETFs, which track the spot prices of Litecoin (LTC) and Hedera (HBAR), respectively, and the first-ever Solana staking ETF—Bitwise Solana Staking (BSOL). The launch of these ETFs marks a further development in crypto asset investment products, particularly in terms of innovation in digital currency staking.

The combined first-day trading volume of these three ETFs reached $65 million, with BSOL accounting for the vast majority at $56 million. BSOL’s strong performance was remarkable, surpassing $10 million within the first hour of trading and setting the highest first-day trading volume record for all ETFs in 2025. The launch of the Solana staking ETF not only attracted investor attention but also demonstrated the appeal and market demand for the Solana ecosystem.

In comparison, the first-day trading volumes of Canary Litecoin (LTCC) and Canary HBAR (HBR), though lower than BSOL, still reflected considerable market acceptance. Particularly for Litecoin and Hedera, two digital assets that have long been viewed favorably, their ETFs provide investors with more investment opportunities. The launch of Canary Litecoin and Canary HBAR enables investors to more easily access the market performance of these two digital assets while also offering additional risk management tools for investors in these assets.

As of October 20, there were 155 crypto ETF/ETP applications in the U.S. market, covering 35 different digital assets, with Solana (SOL) and Bitcoin (BTC) being the primary asset targets. The launch of these ETFs undoubtedly provides a broader platform for the popularization and mainstream adoption of digital assets. The increasing number of crypto asset ETFs also offers investors more choices, allowing them to find their place in a broader investment portfolio, whether through spot investments or staking yields.

The rapid development of crypto ETFs reflects strong market demand for crypto asset products, especially as institutional investors enter the space. Crypto ETFs are expected to become a key gateway for more investors to access the crypto market. At the same time, innovative products like the Solana staking ETF are helping investors more easily participate in the blockchain ecosystem and earn on-chain yields.

Overall, the ETF launch on October 28 is not only a significant event for the crypto asset market but also lays the foundation for the future introduction of more innovative crypto ETFs. As market recognition of these products grows, there is reason to believe that crypto ETFs will play an increasingly important role in the future of crypto finance.