According to Bloomberg ETF analyst Eric Balchunas, Bitwise’s Solana (SOL) ETF and Canary’s Litecoin (LTC) and Hedera (HBAR) ETFs will launch on Tuesday, Oct. 28, 2025. Moreover, Balchunas stated that Gratscale’s Solana fund will convert on Wednesday, Oct. 29, 2025. The development marks the first round of ETF approvals for 2025. The US SEC made history in 2024 by approving several Bitcoin (BTC) and Ethereum (ETH) ETFs. The list of crypto-based ETFs just got a lot longer.
Will Solana Rally After Its ETF Launch?
ETF inflows have played a significant role in BTC and ETH hitting new all-time highs earlier this year. ETFs pave the way for institutional money to pour into the crypto landscape. Institutional money is key to an asset’s price movement. Solana (SOL) could also follow BTC’s pattern after its ETF debut.
Despite the bullish development, Solana’s (SOL) price seems not to have reacted to the news. Despite a healthy weekly rally, SOL’s price is glowing red in most time frames. According to CoinGecko’s Solana data, SOL has rallied by 8% over the last week, but is down 1.1% in the last 24 hours, 2.5% in the 14-day charts, and 0.1% over the previous month.
The current lackluster performance is likely due to a bearish market environment, arising from global trade disputes and macroeconomic uncertainties. The Solana (SOL) and the larger crypto market faced a massive correction after a trade spat between the US and China. The market seems to be slowly recovering after both sides reported healthy negotiations and discussions.
Also Read: Hong Kong Approves First Spot Solana $SOL ETF, Launches Oct. 27
The market is still fragile and could face further corrections if the global economy does not cool off. Solana’s ETF launch may not have the desired impact if the bearishness continues to loom over market participants.