Bitwise's Solana ETF Breaks $70 Million in Trading Volume on Second Day

According to The Block, the first U.S. Solana spot ETF—Bitwise Solana Staking ETF (ticker symbol BSOL)—continued to show strong performance on its second trading day after setting the highest trading volume record among nearly 850 newly listed ETFs this year on its debut. BSOL recorded a trading volume of $72.4 million on Wednesday, surpassing the first-day record of $56 million. Bloomberg senior ETF analyst Eric Balchunas posted on the X platform, saying: 'A $72 million trading volume is very impressive and a good sign.' He also noted that the trading volumes of Canary Litecoin ETF (LTCC) and Canary HBAR ETF (HBR) were roughly the same as Tuesday, at approximately $8 million and $1 million, respectively. Balchunas remarked that these figures are quite notable and pointed out that most ETFs experience a drop in trading volume after the initial hype of their debut. Additionally, Grayscale launched its Solana Staking ETF (GSOL), with a trading volume of approximately $4 million. Balchunas commented: 'Solid performance, but clearly not as strong as BSOL. Launching just one day later actually has a huge impact, making competition much tougher.' The REX Osprey Solana Staking ETF (SSK) also attracted around $18 million in funds on Wednesday.