The first U.S. spot exchange-traded funds (ETFs) for Solana (SOL), Litecoin (LTC), and Hedera (HBAR) have officially begun trading.
Notably, the products made their debut today, Oct. 28, 2025, representing a major step in America’s growing crypto market. Crypto in America journalist Eleanor Terrett confirmed the launch, noting that Wall Street had opened trading for the three assets earlier in the day.
Possible Trigger of the Early Launch
Before the launch, Terrett and several analysts, including Bloomberg’s James Seyffart, revealed that the ETFs had gained approval despite the ongoing government shutdown.
Specifically, Seyffart explained that the approval came from new guidance released by the SEC’s Division of Corporate Finance. He pointed to one specific question, no. 11, in a 22-part Q&A document, as the key detail that cleared the path for these ETFs.
NEW: YES… We expect Solana, Litecoin and HBAR to get their first pure spot ETFs here in the US this week as has been reported. But how did this happen? Almost certainly due to language in a guidance letter from the SEC’s division of corporate finance which came in the form of… pic.twitter.com/WdswvuHh2n
— James Seyffart (@JSeyff) October 27, 2025
Although the language wasn’t entirely clear, Balchunas said firms like Canary Funds, Bitwise, Grayscale, Nasdaq, and the NYSE found it strong enough to move forward.
Notably, Seyffart noted that the SEC quietly changed the language, and only a few people initially noticed it. Canary Capital took the first step on Oct. 7 by filing for both its Litecoin (LTCC) and Hedera (HBR) ETFs.
Bitwise followed on Oct. 8 with its Solana Staking ETF (BSOL), and Grayscale filed for its Solana fund (GSOL) on Oct. 9. These early filings led to their early approval.
The Bitwise Solana ETF began trading on NYSE Arca, offering exposure to Solana alongside staking. Meanwhile, Canary Capital rolled out both the Litecoin ETF and the Hedera ETF on Nasdaq, with both products holding the underlying assets directly.
Investors Gain Regulated Exposure to Solana, Litecoin, and Hedera
The new ETFs give investors a regulated way to gain exposure to Solana, Litecoin, and Hedera through standard brokerage accounts without needing to hold the tokens directly. They build on the success of the 2024 spot Bitcoin and Ethereum ETFs.
The approvals came through the SEC’s new generic listing standards, which replaced lengthy individual 19b-4 reviews with a faster Form 8-A process. This streamlined approach allowed issuers to move forward even during the government shutdown.
Interestingly, analysts at Bloomberg and J.P. Morgan expect the ETFs to attract between $1 billion and $1.5 billion in inflows over the next year. Following the launch, the SOL price surged 1.24% to cross $203 but has since dropped 1.59%. HBAR spiked 8% in an hour to $0.2 but has also lost some of its gains at press time. LTC soared 6% but also dropped.
Before trading began, Bloomberg’s Eric Balchunas predicted day-one volumes of $52 million for BSOL, $8 million for HBR, and $7 million for LTCC. Thirty minutes after the open, he reported volumes of $10 million, $4 million, and $400,000, respectively.
Here’s numbers fter 30min$BSOL: $10m$HBR: $4m$LTCC: $400k
— Eric Balchunas (@EricBalchunas) October 28, 2025
With these launches, the U.S. crypto ETF market now includes altcoins besides Ethereum. Meanwhile, attention has moved to XRP. Specifically, multiple issuers, including Grayscale, Bitwise, 21Shares, Canary Capital, and Franklin Templeton, have already filed for spot XRP ETFs. Bloomberg analysts already give XRP ETF filings a 98% chance of success.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.