Solana Spot ETF Listed in the U.S.... Integrating Staking Yields [Crypto Briefing]

Trading of spot exchange-traded funds (Spot ETFs) based on altcoins such as Solana, Litecoin (LTC), and Hedera has begun on the U.S. stock market. Following the United States Securities and Exchange Commission (SEC)'s consecutive approvals of Bitcoin (BTC) and Ethereum spot ETFs in the first half of last year, the approval process for altcoin spot ETFs has been streamlined. As a result, a surge in diverse virtual asset investment products is anticipated.
According to NH Investment & Securities Co., Ltd. on the 29th, the Bitwise Solana Staking ETF, Canary Litecoin ETF, and Canary HBAR ETF began trading in the United States on the 28th (local time). Grayscale Solana Trust (GSOL) is also scheduled to be converted into an ETF and traded.
The Bitwise Solana Staking ETF is particularly noteworthy because it allows investors to benefit from staking. Staking is a method where investors deposit virtual assets into a blockchain network and receive rewards in return.
Sung-wook Hong, a researcher at NH Investment & Securities Co., Ltd., stated, “The Bitwise Solana Staking ETF aims to stake 100% of the Solana held by the fund manager, targeting an annual staking yield of around 7%. We expect staking to be actively utilized in digital asset ETFs going forward.”
As a result, the Bitwise Solana Staking ETF attracted significant investor interest on its first day of trading.
On this day, Bitwise Asset Management announced on its official social media platform X (formerly Twitter), “The first-day trading volume of the Bitwise Solana Staking ETF reached $55.4 million, and its Assets Under Management (AUM) totaled $217 million.” The company also emphasized, “As this is a high-risk product, investors should carefully read the latest prospectus before making any investment decisions.”
Virtual assets with a high likelihood of being included in the altcoin spot ETF market in the future include XRP, Chainlink, Avalanche, Stellar, Polkadot, Dogecoin (DOGE), Shiba Inu (SHIB), Bitcoin Cash (BCH), and Cardano. Hong noted, “Despite the ongoing U.S. government shutdown, the launch of altcoin spot ETFs appears to be the result of a clearer and more streamlined approval process. We also expect to see the launch of index-type spot ETFs such as the Grayscale CoinDesk Crypto 5 ETF (GDLC).” GDLC is a diversified ETF that holds 74% BTC, 16% Ethereum, 5% XRP, 4% Solana, and 1% ADA.
However, it should be noted that the immediate inflow of funds may not occur right after the launch of an ETF. Hong explained, “Solana, Litecoin (LTC), and Hedera are not widely recognized among general investors. If Solana gains more attention from retail investors in the future, it could benefit from increased demand through ETFs.”

elikim@fnnews.com Kim Mi-hee Reporter