according to Bloomberg analyst Eric Balchunas. Bitwise's Solana ETF and Canary's Litecoin and Hedera ETFs began trading on the NYSE and Nasdaq under the Securities Act of 1933 structure.
Bitget exchange's chief analyst Ryan Lee estimates the Solana staking ETF may attract between $3 billion and $6 billion in new capital during its first year. The staking feature introduces an additional 5% passive income for holders, creating a dynamic that could draw more institutional capital into the wider altcoin sector beyond traditional ETF products.
Bitwise's Solana ETF debuted with $10 million in trading volume during its first 30 minutes on the New York Stock Exchange. Canary Capital's Hedera ETF posted $4 million while the Litecoin ETF recorded $400,000 in early trading activity.
Bloomberg Intelligence ETF analyst James Seyffart projects Solana's ETF could generate over $3 billion in inflows over 12-18 months if momentum matches previous launches. He noted Solana's market cap represents 5% of Bitcoin's and 22% of Ethereum's as a reference point for potential flows.
The historic launch of U.S. spot Bitcoin ETFs attracted $36.2 billion in investments during their first year, according to blockchain data aggregator SoSoValue. U.S. spot Ethereum ETFs amassed $8.64 billion during their first year of trading.
Multinational investment bank JPMorgan predicted a Solana ETF would attract $3 billion to $6 billion, while an XRP ETF would garner $4 billion to $8 billion in new investments. The projections are based on adoption rates seen with Bitcoin and Ethereum ETFs, which had 6% and 3% adoption rates, respectively, during their first six months.
Lee emphasized that Solana is stepping into the "big league" next to the two leading cryptocurrencies, a development that could bolster the wider altcoin market's institutional acceptance. The move signals broader acceptance of altcoins within compliant yield-generating structures, driving new capital into DeFi and real-world asset tokenization.
For comparison, spot Bitcoin ETFs brought in $628 million in flows on their first day across multiple issuers while spot Ether ETFs saw $106 million. Tuesday's launch featured only one issuer per asset but Grayscale's Solana Trust is set to begin trading on Wednesday after filing for conversion to an ETF.
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