Solana News Today: Crypto ETFs Connect Conventional Finance and Digital Assets with $65 Million Launch

New cryptocurrency ETFs tracking

, , and reached a combined $65 million in trading volume on their first day, signaling a significant step forward for institutional involvement in digital assets. These launches, which feature the first Solana staking ETF approved by the SEC and multi-asset offerings from Grayscale and T. Rowe Price, demonstrate a rising confidence in blockchain investments among mainstream investors.

The Bitwise Solana Staking ETF ($BSOL), the inaugural ETF of its type, opened for trading on October 28 and saw strong investor interest. This fund provides direct access to Solana (SOL) and stakes the tokens on-chain through Helius Labs, aiming for an average annual yield of 7%. To attract institutional investors, the ETF is waiving fees for the first three months or until it reaches $1 billion in assets under management (AUM). Its predecessor, the REX-Osprey Staking Solana ETF (SSK), already surpassed $400 million in AUM, highlighting robust demand for yield-generating crypto investments, as mentioned in the

.

Grayscale introduced the

(GDLC) on NYSE Arca, expanding investor options by combining exposure to , , Solana, , and . The fund’s net asset value (NAV) is structured to reflect the performance of these assets, representing 90% of the total crypto market capitalization. Grayscale CEO Peter Mintzberg highlighted that this product simplifies crypto investing for traditional investors, describing it as a "first for crypto index investing."

Institutional interest has also grown for Litecoin and Hedera. The Canary Litecoin and HBAR ETFs, which are launching alongside the Bitwise Solana ETF, received SEC approval after delays caused by the government shutdown. Gregg Bell from the Hedera Foundation described the approval as a "new chapter" for regulated crypto investment, emphasizing Hedera’s enterprise-level infrastructure and oversight by Fortune 500 companies such as IBM and Boeing, as reported when the

.

Market trends show these products are attracting broad interest. While

saw $149 million and $134 million in inflows respectively on October 27, alternative coin funds like SSK and GDLC indicate that investors are increasingly diversifying beyond the two largest cryptocurrencies. Solana’s network data, including a 55% increase in adjusted transaction volume and a 14% growth in stablecoin supply, further cements its role in decentralized finance (DeFi) and tokenized asset markets, as supported by reports on .

This movement reflects larger trends in the industry. The

reveals that the 87-year-old Wall Street institution has applied for an actively managed crypto ETF covering 15 digital assets, including Litecoin and Solana, indicating that traditional finance is increasingly adopting blockchain technology. With more than 150 crypto ETF applications awaiting SEC decisions, analysts predict that regulatory approval could unlock billions in new investments. JPMorgan estimates that Solana ETFs could see $6 billion in inflows in their first year, while filings from and Fidelity suggest similar levels of interest.

Nonetheless, some challenges persist. Grayscale and 21Shares have pointed out risks such as price swings and the possibility of significant outflows. Despite these concerns, the momentum in the sector indicates that crypto ETFs are becoming an important link between traditional finance and digital assets. As institutional investors look for regulated, liquid crypto exposure, the $65 million launch of these new funds could be a sign of even greater capital inflows into crypto markets in 2025.