Nate Geraci, a popular ETF expert and president of NovaDius Wealth Management, expresses confidence that upcoming XRP ETFs will match or exceed Bitwise’s Solana ETF’s record debut.
Geraci made the bold prediction after Bitwise’s Solana Staking ETF (BSOL) posted the highest first-day trading volume of any ETF launch this year.
For context, Eric Balchunas, Bloomberg Senior ETF Analyst, highlighted BSOL’s remarkable performance in a tweet, capturing the first-day trading results for three newly launched spot ETFs tied to cryptocurrencies such as Hedera, Litecoin, and Solana.
Among the three newly launched crypto ETFs, the Bitwise Solana ETF (BSOL) stood out with a strong first-day trading volume of $56 million. BSOL’s performance far exceeded that of Canary Capital’s Hedera ETF (HBR) and Litecoin ETF (LTCC), which recorded $8 million and $1 million in trading volume, respectively.
Notably, Balchunas expressed surprise at how accurately his earlier predictions aligned with the result. For context, the Bloomberg expert had forecasted that the BSOL, HBR, and LTCC would reach first-day trading volumes of $52 million, $8 million, and $7 million, respectively.
Largest US ETF Debut in 2025
According to Balchunas, BSOL’s $56 million trading volume represents the largest ETF debut of the year, surpassing other notable crypto ETP launches such as the REX-Osprey XRP ETF (XRPR) and the firm’s own Solana ETF (SSK).
The REX-Osprey XRP ETF previously held the record with a first-day trading volume of $37.75 million in September, while SSK, which launched in June, recorded $12 million on its debut.
BSOL has now taken the lead, setting a new benchmark as the U.S. ETF with the largest first-day trading volume in 2025, reaching an impressive $56 million.
Meanwhile, Balchunas noted that BSOL was seeded with $220 million in capital, implying that if the entire amount had been invested on the first day, its trading volume could have reached roughly $280 million.
He added that such a figure would have allowed BSOL to surpass the debut performance of BlackRock’s Ethereum ETF (ETHA), which launched in 2024 with an estimated $266 million in first-day trading volume.
XRP ETFs to Match or Surpass BSOL First-Day Volume
Other prominent ETF experts, including Nate Geraci of NovaDius Wealth Management, also celebrated BSOL’s incredible debut. Geraci noted that out of the 850 ETF launches this year, BSOL recorded the largest first-day trading volume, indicating strong investor demand for the product.
He noted that this milestone aligns with his earlier prediction that Solana and XRP ETFs would experience strong demand, similar to that of Bitcoin and Ethereum products.
In his latest comments, Geraci projected that the upcoming XRP ETFs could draw trading volumes that match or exceed BSOL’s debut. This suggests that he expects at least one of the seven pending spot XRP ETFs to reach or surpass the $56 million first-day trading volume recorded by BSOL.
Will XRP ETFs Become Effective Without SEC Approval?
At present, there is no confirmed launch date for the potential XRP ETFs, largely due to the ongoing U.S. government shutdown. According to Crypto in America journalist Eleanor Terrett, the recent launches of the Litecoin, Solana, and Hedera ETFs were made possible because the issuers included a provision in their amended S-1 filings allowing the products to automatically become effective 20 days after filing, without requiring SEC approval.
In addition, the NYSE certified the 8-A filings, which register ETF shares for exchange trading, enabling these crypto ETFs to begin trading despite the shutdown.
This suggests that if the amended XRP ETF applications contain similar language, they could also go live under the same conditions as the Litecoin and Solana ETFs.
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