Crypto ETFs Launch, But Prices Dip

The crypto world saw a mix of excitement and disappointment with the launch of new spot exchange-traded funds (ETFs) for Solana, Litecoin, and Hedera. Despite the hype, the prices of these cryptocurrencies didn't shoot up as expected. Solana, often called SOL, is the sixth biggest crypto by value. It dropped by over 3% in a day, even though more people were trading it. Litecoin, known for its proof-of-work system, also fell by nearly 3%. Hedera, or HBAR, had been doing well before the ETF launch but didn't impress on the big day. The ETFs tracking these cryptos started trading on Wall Street. Bitwise launched the Bitwise Solana Staking ETF, which lets investors earn from Solana's staking rewards. It had a strong first day with $56 million in trades, the highest so far in 2025. The other ETFs for Litecoin and Hedera didn't do as well, with much lower trading volumes. Looking at the numbers, Litecoin's ETF ended the day down by nearly 5%, and HBAR's ETF also fell by over 5%. Solana's ETF had a small gain after hours, but it still ended the day lower. The launch of these ETFs was a big deal, but the crypto market didn't react as strongly as some had hoped. It's a reminder that even with new investment options, the market can be unpredictable.