The Solana ETF debuted in the US today, achieving tremendous success. Bitwise’s offering recorded $56 million in trading volume on its first day, surpassing the impact of over 850 ETFs launched in 2025.
Nevertheless, SOL’s actual token price has decreased today due to various factors. While the upcoming altcoin ETFs may present attractive investment prospects, the prevailing market trends still appear bearish.
Solana ETF Launch
The anticipation surrounding a Solana ETF has generated market buzz for months, but the launch occurred under unclear circumstances. Following several false starts and regulatory uncertainties, the community reacted with mixed feelings when analysts announced that trading was imminent.
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Regardless, the initial Solana ETFs went live today, and their debut proved highly successful:
Institutional investors have been heavily investing in cryptocurrency ETFs, and the new Solana offerings are no exception.
Eric Balchunas, a Bloomberg analyst, stated that Bitwise’s product experienced the most successful launch of any ETF in 2025, outpacing those based on XRP and non-token products alike; a total of around 850 new assets.
SOL’s Stagnation
In summary, the Solana ETF has been a remarkable success. Bitwise’s product far outshone HBAR and Litecoin ETFs, achieving $56 million in total volume compared to $8 million and $1 million, respectively. However, anticipated gains for Solana have not yet appeared:
This gap between ETF performance and genuine interest in Solana is concerning. SOL’s price didn’t simply overlook the news; it actually dropped significantly.
Analysts indicate that a long squeeze may be occurring among long-term holders and leveraged positions, which could be contributing to this stagnation. Nevertheless, it appears quite bearish that the Solana ETF’s breakout success hasn’t affected these dynamics.
The initial BTC ETFs led to unprecedented success for Bitcoin, potentially changing its price patterns permanently. If altcoin products don’t create a similar effect, it will raise significant questions.
Essentially, this situation is a mixed blessing. The Solana ETF has finally arrived in the US markets, and demand is considerable. For now, however, retail SOL holders may not enjoy any of the benefits.
