Bitwise's Solana ETF saw trading volume exceed $70 million on its second day.

PANews reported on October 30th that, according to The Block, the Bitwise Solana Staking ETF (ticker symbol BSOL), the first Solana spot ETF in the US, showed even stronger performance on its second trading day after setting a record for the highest trading volume among nearly 850 newly listed ETFs this year on its first day. BSOL's trading volume reached $72.4 million on Wednesday, further climbing from the record of $56 million on its first day. Eric Balchunas, senior ETF analyst at Bloomberg, wrote on the X platform, "A trading volume of $72 million is very impressive and a good sign." He also noted that the trading volumes of the Canary Litecoin ETF (LTCC) and the Canary HBAR ETF (HBR) were roughly the same as on Tuesday, at approximately $8 million and $1 million respectively. Balchunas stated that these figures are quite substantial, and pointed out that most ETFs experience a decline in trading volume after the initial hype on their first day.

In addition, Grayscale launched its Solana pledged ETF (GSOL), with trading volume of approximately $4 million. Balchunas stated, "It performed steadily, but clearly not as well as BSOL. Being listed just one day later actually has a huge impact, making the competition much more difficult." The REX Osprey Solana pledged ETF (SSK) also attracted approximately $18 million in funds on Wednesday.