Ouess

The crypto ETF launch floodgates have officially opened. In a landmark moment for digital asset adoption, three major cryptocurrency ETFs are debuting simultaneously. The Bitwise Solana Staking ETF (BSOL), Canary Litecoin ETF (LTCC), and Canary HBAR ETF (HBR) all begin trading today, marking the biggest multi-asset crypto ETF launch since spot Bitcoin funds debuted.

This historic crypto ETF launch demonstrates how rapidly the regulatory landscape is evolving. Despite the ongoing U.S. government shutdown, these funds are proceeding thanks to a strategic regulatory workaround. Issuers used language in their S-1 filings that allows them to automatically go effective 20 days after filing if the SEC misses its deadline—which it did during the shutdown.

Bitwise Leads With Crypto ETF Staking Innovation

Bitwise’s BSOL ETF represents a particular breakthrough. It’s the first U.S. ETF to offer 100% direct exposure to SOL with built-in staking rewards. The fund charges a 0.20% management fee, waived entirely for the first three months on the first $1 billion in assets. This innovative structure lets investors capture both price appreciation and network rewards.

Meanwhile, Grayscale’s converted Solana ETF (GSOL) is scheduled to begin trading tomorrow, adding another major institutional option. The rapid succession of these launches suggests that regulators have become significantly more comfortable with digital assets beyond Bitcoin and Ethereum.

Market Impact and Trading Outlook

The timing of this crypto ETF launch creates immediate buying pressure across all three assets. SOL price has already gained 9% over the past week in anticipation. However, trading volume dipped 2% in the last 24 hours, suggesting some traders may be taking profits ahead of the official launch.

Analysts note that while the automatic effectiveness provides a temporary pathway, it carries some risk. Once the government shutdown ends, the SEC could potentially issue stop orders if they find issues with the filings. However, the mere fact that major issuers like Bitwise and Canary are proceeding suggests confidence in their legal footing.

My Thoughts

This changes everything for altcoins. The successful launch of multiple non-Bitcoin ETFs proves that regulatory barriers are crumbling faster than anyone expected. The staking component in Bitwise’s fund is particularly revolutionary—it creates a yield-bearing wrapper that traditional finance understands. While there’s regulatory risk when the government reopens, the precedent has been set. We’re witnessing the institutionalization of the entire crypto market, not just Bitcoin.