BSOL ETF Crushes XRP Debut with Record $56 Million First Day Volume

The HBAR and LTC ETFs launched alongside BSOL, but with much smaller volumes on the first day, $8 million and $1 million, respectively.

The new Bitwise Solana Stake ETF (BSOL) shocked the markets on Tuesday, recording $56 million in trading volume on its first day.

This milestone makes it the best ETF launch of 2025, not just in crypto but among the more than 850 US ETFs launched this year.

A record debut

According to Bloomberg analyst Eric Balchunas, BSOL’s $56 million in first-day volume was its highest ever in 2025, outpacing the launches of around 850 other new funds, including the REX-Osprey XRP ETF (XRPR).

For comparison, on its first day, September 18, XRPR raised $37.7 million, of which $24 million came in its first hour and a half. Additionally, within five weeks, it had more than $100 million in assets under management. BSOL’s final figure surpassed XRPR’s initial returns by more than $18 million, and strong investor confidence was anticipated even before trading began. balchunas had provided It would reach $52 million on opening day, missing only $4 million from the final amount.

Bitwise Asset Management launched BSOL on Nasdaq under the Securities Act of 1933. This gave investors direct access to SOL with rewards of approximately 7% and no management fees for a limited time.

The launch was part of a group of three new crypto funds. The other two were ETFs for Hedera (HBAR) and Litecoin (LTC), which recorded first-day volumes of $8 million and $1 million, respectively.

These new funds came to market thanks to an automatic legal provision that allowed their registrations to proceed without manual approval from the Securities and Exchange Commission (SEC), which was especially useful because parts of the United States government are currently closed.

You may also be interested in:

Meanwhile, Grayscale confirmed that its Solana Trust (GSOL) would become an ETF on October 29, further expanding investor options across the Solana ecosystem.

SOL Price Action and Market Outlook

Following BSOL’s debut, Solana’s market performance was mixed. At the time of writing, the asset is trading at around $195, down 2.3% in the last 24 hours. However, it has risen 5.1% over the past week, suggesting that while the news about the ETF did not cause an immediate jump in price, it may have contributed to medium-term positive sentiment towards the asset.

Some analysts say the ETF’s strong debut could spark the interest of more institutional investors, helping to keep prices stable in the near term. SOL has fallen 7.1% over the past 30 days, but is up a modest 7.6% over the past year. Still, its daily trading volume of $7.7 billion and market capitalization of $107 billion make it one of the most liquid and actively traded cryptocurrencies on the market.