The solana ETF had $56 million in trading volume.
ETFs for XRP, cardano and other cryptocurrencies could be approved this year.
Three cryptocurrency-based exchange-traded funds (ETFs) began trading on US stock exchanges yesterday, October 28, showing positive trading performance that has captured the market’s attention.
The most notable debut was that of the Bitwise Solana Staking ETF (BSOL), which exceeded initial projections and marked a milestone in the launch of this type of instrument this year.
The BSOL ETF, issued by the manager Bitwise, record a trading volume of 56 million dollars on its first daynotably exceeding the forecast of 52 million made by the specialist Eric Balchunas.
The solana fund combines direct exposure to the solana price with additional returns earned through staking. This mechanism allows investors to receive rewards for participating in network security.
For their part, the Litecoin (LTC) and Hedera (HBAR) ETFs, launched by the investment firm Canary Capital, also had their first day on the market.
The LTC-based instrument closed its trading volume at $1 million, having reached $400,000 in its first half hour. The HBAR ETF showed a stronger performance, ending the day with $8 million in trading volumehaving reported 4 million during the first hour, according to cited data by Balchunas.
This successful start of the three ETFs could be the prelude to a greater arrival of digital asset-based instruments to the US market. Currently, digital assets such as XRP and cardano, among others, are awaiting their own ETFs.
CriptoNoticias has previously reported that there are 155 ETF proposals seeking to track 35 different digital assets. With the growing interest in these financial vehicles, Balchunas estimates that the number of proposals could exceed 200 in the next 12 monthswhich underlines the rapid evolution and institutionalization of the digital asset sector in the traditional financial sphere.