Crypto ETFs Launch, But Prices Dip

The crypto world witnessed a mix of excitement and disappointment with the launch of new spot exchange-traded funds (ETFs) for Solana, Litecoin, and Hedera.

The Biggest Losers

Despite the hype, the prices of these cryptocurrencies didn't shoot up as expected:

• Solana (SOL), the sixth biggest crypto by value, dropped by over 3% in a day, even with increased trading activity.
• Litecoin (LTC), known for its proof-of-work system, also fell by nearly 3%.
• Hedera (HBAR), which had been performing well before the ETF launch, failed to impress on the big day.

ETFs Hit Wall Street

The ETFs tracking these cryptos began trading on Wall Street:

• Bitwise Solana Staking ETF allowed investors to earn from Solana's staking rewards, recording $56 million in trades on its first day—the highest so far in 2025.
• The ETFs for Litecoin and Hedera, however, didn't perform as well, with much lower trading volumes.

Market Reactions

• Litecoin's ETF ended the day down by nearly 5%.
• HBAR's ETF also fell by over 5%.
• Solana's ETF had a small gain after hours but still closed the day lower.

A Reminder of Market Unpredictability

The launch of these ETFs was a big deal, but the crypto market didn't react as strongly as some had hoped. It's a reminder that even with new investment options, the market remains unpredictable.