Altcoin ETFs Make Strong Wall Street Debut Amid Growing Institutional Interest
Three new cryptocurrency exchange-traded funds (ETFs) made a high-impact debut on Wall Street, collectively generating $65 million in first-day trading volume and signaling the growing appetite for altcoin exposure among institutional investors.
The lineup includes Canary Capital’s Litecoin ETF (LTCC) and Hedera ETF (HBR) — the first U.S. spot ETFs for their respective assets — and Bitwise’s Solana Staking ETF (BSOL), which offers 100% staked exposure to Solana (SOL).
According to Bloomberg ETF analyst Eric Balchunas, BSOL alone accounted for $56 million of the total, marking the largest ETF launch by trading volume in 2025. “It seeded with $220 million and could easily have crossed $280 million if all funds were deployed on Day One,” Balchunas noted.
Institutional Momentum Builds Around Altcoin ETFs
The Bitwise Solana Staking ETF quickly emerged as the standout performer, reflecting rising institutional confidence in Solana’s staking economy and its expanding role in decentralized finance (DeFi) and payments. Within its first hour of trading, BSOL reached $10 million in volume, while HBR and LTCC recorded $4 million and $400,000, respectively.
These figures surpass the debut of the XRP and Dogecoin ETFs, which together reached $55 million in day-one volume last month. By comparison, the nine Ethereum ETFs that launched in July 2024 amassed $1 billion in initial trading volume, showcasing how investor attention continues to shift across major crypto assets.
ETF Filings Surge as Regulatory Path Clears
The surge in altcoin ETF launches comes as the U.S. Securities and Exchange Commission (SEC) streamlines its approval process following this month’s temporary government shutdown. Under the new guidelines, issuers can now file S-1 registrations without a delaying amendment, allowing listings to go live automatically after 20 days if no changes are made.
As of October 20, there are 155 cryptocurrency-based exchange-traded products (ETPs) registered in the U.S., tracking 35 digital assets — led by Solana and Bitcoin, each with 23 proposals, followed by XRP and Ethereum.
“We could see more than 200 crypto ETFs reach the market within the next 12 months,” Balchunas said, calling the current environment a “total land rush.”
Expanding the Crypto Investment Frontier
The launches mark a significant milestone for altcoins seeking broader investor legitimacy. Hedera’s HBAR token jumped 11% on launch day, while Litecoin (LTC) dipped 2.6%, reflecting mixed short-term sentiment but strong underlying demand for regulated crypto investment vehicles.
With Bitcoin and Ethereum ETFs now holding over $175 billion in combined assets, the success of these new altcoin products underscores a maturing market, where investors are diversifying beyond the top two cryptocurrencies.
The debut of Litecoin, Hedera, and Solana ETFs confirms that institutional investors are not just watching crypto anymore — they’re actively participating in its next phase of growth.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.