Cryptocurrencies Hedera, Solana, and Litecoin experienced a lackluster trading day on Wall Street following the launch of their respective spot exchange-traded funds (ETFs). The anticipated debut of these ETFs, which aimed to bolster investor interest and market momentum, instead coincided with declines in the value of these digital assets.
Solana (SOL), the sixth-largest cryptocurrency by market capitalization, saw a notable decrease of over 3% within a 24-hour period, coupled with a 25% increase in trading volume. Similarly, Litecoin (LTC), a proof-of-work token, dropped by 2.85%. Hedera (HBAR) also struggled to maintain its recent gains, falling by 1.04% despite a build-up of positive sentiment leading to its ETF launch.
Market activity showed that Solana was trading at $194.63, while Litecoin and Hedera had prices of $96.93 and $0.1938, respectively. The declines occurred despite the launch of two ETFs aimed at providing investors with exposure to the performance of these cryptocurrencies.
Bitwise launched the Bitwise Solana Staking ETF (NYSE:BSOL), which allows investors to benefit from Solana’s growth potential while taking advantage of its average staking yield of over 7%. This ETF reported an impressive trading volume of $56 million on its first day, marking it as the most active in 2025, according to Bloomberg ETF analyst Eric Balchunas.
In contrast, the other two ETFs associated with Hedera and Litecoin did not generate the same level of interest. The Canary HBAR ETF (NASDAQ:HBAR) and the Canary Capital’s Litecoin Spot ETF (NASDAQ:LTCC) recorded significantly lower trading volumes of $8 million and $1 million, respectively.
Following the debut, price actions post-market indicated further declines for these ETFs. The Litecoin ETF decreased by 1.57% in after-hours trading, closing 4.78% lower at $24.13 during the regular session. The HBAR ETF also fell, closing down 5.70% during the day and dropping another 1.19% in after-hours trading to a price of $27.09. Meanwhile, Bitwise’s Solana ETF saw a slight uptick of 0.08% after-hours, recovering just a fraction after a 3.58% fall during regular trading hours.
The overall trading sentiment points to increased volatility and uncertainty in the cryptocurrency market, despite the introduction of new investment vehicles aimed at facilitating broader participation.
