US Launches First SOL, LTC and HBAR ETFs on October 28: A Game Changer in Crypto

Key Points

• The first-ever Solana (SOL), Litecoin (LTC), and Hedera (HBAR) spot ETFs in the US began trading on Wall Street on October 28.
• Canary Funds launched HBAR and LTC ETFs, while Bitwise introduced a SOL ETF.

On October 28, the initial spot Solana (SOL), Litecoin (LTC), and Hedera (HBAR) ETFs in the US began trading on Wall Street.

Canary Funds introduced HBAR and LTC ETFs, and Bitwise’s SOL ETF launched as anticipated.

Launch of SOL, LTC, and HBAR ETFs

Bitwise debuted its Solana Staking ETF (BSOL) with nearly $223 million in assets on October 28, as noted by Bloomberg analyst Eric Balchunas.

Earlier, Balchunas had projected that BSOL would debut with $52 million in volume on its first day.

Additionally, on October 22, Hong Kong’s first SOL ETF went live, and Volatilty Shares launched two SOL futures ETFs in the US in March.

Meanwhile, Canary Funds launched HBAR and LTC ETFs.

The Hedera Foundation celebrated the accomplishment, mentioning Hedera’s institutional-grade network.

The team stated that in addition to this spot HBAR ETF from Canary, there are 12 other ETFs filed for HBAR from significant names, such as Grayscale, REX Osprey, 21Shares, and others.

Canary’s HBAR ETF began trading on NASDAQ under the ticker HBR.

The Litecoin Foundation announced the launch of the LTC ETF, under the ticker LTCC, which is the first-ever Litecoin ETF in the US, listed on NASDAQ.

Trading Volumes and Price Actions

According to Balchunas, BSOL recorded $10 million in volume in the first 30 minutes of trading, HBR saw $4 million, and LTCC recorded $400,000.

On October 28, the prices of SOL, LTC, and HBAR surged.

HBAR recorded the most significant price surge that day, trading above $0.2, up by almost 16% in the past 24 hours.

SOL and LTC also saw price surges on October 28 – SOL is trading above $202, up by over 1.6% today, and LTC is trading above $100, up by more than 2% in the past 24 hours, following an earlier price spike.

More crypto ETFs are awaiting approval from the US SEC.