Bitwise Launches Innovative Solana ETF on NYSE, Joining Forces with Litecoin and Hedera Offerings Translation: Bitwise Launches Innovative Solana ETF on NYSE, Joining Forces with Litecoin and Hedera Offerings

Simultaneously, funds based on HBAR and LTC have been launched.

On October 28, trading began for Bitwise’s spot exchange-traded fund based on Solana, labeled BSOL, at the NYSE.

The total assets under management for this new ETF have already exceeded $220 million.

As stated in the press release, Bitwise plans to allocate 100% of the fund’s assets to staking via the Helios protocol, targeting an average annual yield of 7%.

To attract investors, the company has set a zero fee for the first three months of trading, after which the fee will increase to 0.2%.

«Solana represents one of the most compelling investment opportunities in cryptocurrency today. Its ability to handle massive transaction volumes with high efficiency and low costs positions the blockchain as a strong competitor in the stablecoin and tokenization markets,» remarked Bitwise’s Chief Investment Officer, Matt Hougan.

The price of SOL showed minimal reaction to the announcement, trading just below $200 at the time of writing, with a 1.2% decline over the past day.

In parallel with the Solana product, Canary Capital has released an ETF based on Litecoin (LTC) under the ticker LTCC, available through brokerage accounts.

The company has also introduced a fund based on Hedera (HBAR), called HBR.

«Hedera stands out for its high throughput, low fees, corporate governance, real-world use cases, and energy efficiency,» noted Canary.

LTC prices reacted mildly to the news, while HBAR saw an 11% increase over the day.

In addition, on October 29, Grayscale plans to convert its Solana trust into the GSOL exchange-traded fund.

It’s worth recalling that earlier in October, media reported that the Hong Kong Securities and Futures Commission approved the first spot ETF based on Solana in the region.