Solana ETF Circus: Will the Clowns Keep Juggling? 🎭🚀

Key Takeaways

How strong was BSOL’s trading performance? Oh, mes amis, what a spectacle!

BSOL, that merry jester, swigged $56 million in volume on its maiden debut and a hearty $72.4 million on the morrow, outshining nigh 850 ETF buffoons launched this year in their foolish parade. 😂

Are other crypto ETFs seeing similar activity? Ah, the chorus joins!

Indeed, the Canary Litecoin ETF (LTCC) and Canary HBAR ETF (HBR) persist in their ribaldry, sustaining trading volumes long after the inaugural jest – a rarity, for most wane like aging actors! 😉

The first U.S. concoction granting full, unbridled access to the Solana [SOL] folly shows no inclination to don sobriety’s mask. 🎭

Following a debut that shattered records like a shattered wineglass at a bacchanal, the Bitwise Solana Staking ETF (BSOL) encore’d with even greater gusto, amassing $72.4 million in volume on the 29th of October. 🔊

This atop its $56 million opening salvo, the loftiest first-day frolic among nearly 850 ETF masquerades this annum – what absurdity, what farce! 🤡

Execs weigh in, with tongues as sharp as wit

Bloomberg Senior ETF Analyst Eric Balchunas, that astute quipster, blasphemed on X thusly,

“$BSOL did more volume on Day Two.. $72m is a huge number. Good sign.” 😏

In harmony, Kyle Samani, the scheming enchanter of Multicoin Capital, chimed,

“Truly a watershed moment. The amount of available capital that can now buy SOL that could not previously is tremendous.” 💸🌊

Yet, the frenzy encircling Solana-tethered exchange-traded phantoms extends beyond Bitwise’s solitary folly. Scrolls reveal other nascent crypto ETFs partake in this steady revelry. 📜

Other SOL ETF activity – the supporting cast

Balchunas, ever the narrator, further chronicled that the Canary Litecoin (LTCC) and HBAR (HBR) maintained volumes near $8 million and $1 million, respectively. Most ETFs, those ephemeral butterflies, endure sharp declines post-birth, rendering these steadfast sums a veritable jaw-dropper. 😲

Meanwhile, Bitwise’s BSOL pursued dominance, inscribing roughly $69.5 million in inaugural inflows, pursued by $46.5 million on the 29th of October, per Farside’s decree.

Beholding this, Matt Hougan, CIO of the crypto index mountebank Bitwise Invest, twittered vilely, 🎶

“I have a feeling the Bitwise Solana Staking ETF, BSOL, is gonna be huge. Institutional investors love ETFs, and they love revenue. Solana has the most revenue of any blockchain. Therefore, institutional investors love Solana ETFs.” 💼🥳

Grayscale’s fledgling Solana staking ETF (GSOL) likewise pranced into the fray with nigh $4 million in volume, whilst the REX Osprey SOL Staking ETF (SSK) contributed around $18 million mid-week, like court jesters volunteering tricks. 🃏

Market sentiments and more – the bitter wine

Despite the euphoria enveloping these novel ETFs, market mirth doth not wholly chime with the bullish ballad. 😒

On the omen-peddling platform Myriad, merchants assigned a mere 32.7% likelihood that Solana shall assail a new all-time zenith ere the year’s curtain falls. 🔮

Meanwhile, SOL essayed mild mischief, declining 3.1% in the past 24 hours to encircle $194, as Bitcoin [BTC] retreated from lofty pinnacles. Yet, at this scribbling’s juncture, Solana rallied faintly to $195.53, ascending 0.41% per CoinMarketCap’s sagacious eye. 📈📉

Nevertheless, the grand tapestry swirls in unrest; the amalgamated daily Spot Solana ETF volume, steered by the REX-Osprey SOL ETF, hath attained $1.82 billion as of the 29th of October – a maelstrom of folly! 🌪️

2025-10-30 16:11