Altcoin ETFs Debut on Wall Street
The first spot altcoin ETFs for Solana (SOL), Litecoin (LTC), and Hedera (HBAR) have launched in the USA, generating a total of $65 million in trading volume on their first day.
Bitwise's Solana Staking ETF (BSOL) leads with $56 million in sales, marking it as the most successful ETF launch of 2025.
Canary Hedera ETF (HBR) and Litecoin ETF (LTCC) trade at $4 million and $400,000, respectively.
Main drivers
The newly streamlined "Universal Listing Standard" by the SEC is a key factor driving and accelerating the approval process for cryptocurrency ETFs.
Institutional interest is very strong, with over 150 cryptocurrency ETF applications for 35 digital assets awaiting SEC review.
JPMorgan forecasts strong capital flows, estimating that the Solana ETF could attract between 3-6 billion USD and the potential XRP ETF could reach between 4-8 billion USD.
The market sees a probability of >99% that the XRP ETF will be approved before the end of 2025, as it has met the SEC's futures trading conditions.
Technical Analysis & Trading Strategy
Ethereum (ETH) is signaling a bullish trend, including a "golden cross" pattern and an RSI above 60, indicating strong buying pressure.
Solana (SOL) has a price target of 250 USD, driven by newly launched ETFs and steady investment demand.
Hedera (HBAR) gives mixed signals: short-term bullish momentum but facing resistance and potential selling pressure according to the MACD indicator.
Traders should monitor the Altcoin Season Index (ASI) and Bitcoin's dominance. A low ASI may signal an accumulation phase for strong altcoins.
Risk & Market Sentiment
Market sentiment is cautious, with the Fear & Greed Index at 39, indicating "Fear."
A major risk is the lack of participation from large asset management firms, which could lead to weaker capital flows compared to Bitcoin ETFs.
The price volatility of underlying altcoins is a concern, and smaller funds may struggle with liquidity.
