Solana and Hedera Spot ETF will be listed soon, why have SOL and HBAR prices not risen?

In a haze of regulation and market uncertainty, two major asset management firms, Bitwise and Canary Capital, have confirmed that their Solana (SOL) ETF and Hedera (HBAR ) ETF will officially start trading tomorrow (Tuesday). This news marks the formal entry of altcoin ETFs into the mainstream investment landscape, which is a milestone for the encryption industry. However, despite this significant favourable information, the SOL price and HBAR price have remained stable or even fallen, as the market seems to be weighing macro risks such as the U.S. government shutdown against the long-term benefits of institutional adoption. Traders are eagerly awaiting the actual market liquidity and price impact that will come after the ETF launch.

Solana and HBAR ETF Receive Dual Confirmation: The Era of altcoin ETFs Begins

After weeks of regulatory confusion and rumors of multiple “false starts,” the launch of the Solana ETF has finally been settled. Bitwise Asset Management officially announced today that its SOL-based product is ready. Meanwhile, Canary Capital also claims that its Solana ETF and HBAR ETF are about to be listed, and NYSE Arca has also certified its approval.

Although there was much speculation and anticipation in the market regarding the issuance of altcoin ETFs, the ambiguous stance of regulatory agencies and the uncertainty of the macro environment have kept the market in a wait-and-see state. Now, with two issuers making similar statements, it seems a foregone conclusion that these products will officially trade tomorrow. This not only brings significant legitimacy endorsement to the Solana ecosystem and Hedera Hashgraph but is also seen as an important bridge for institutional funds to enter the altcoin market.

Price Anomaly: Has the Favourable Information Been Realized? Macro Risks Overwhelm ETF Sentiment

Typically, favourable information at the level of approval for a Solana spot ETF often leads to a significant surge in the price of SOL tokens. However, unexpectedly, the prices of SOL and HBAR did not experience the anticipated explosive increase, but instead remained stable, even showing a slight downturn on the day the news was announced. Analysts believe this may be caused by several core factors:

1. Continuity of Market Concerns: Although the issuer has confirmed, the previous confusion and delays regarding the launch time of the ETF have left some traders with a high degree of skepticism, believing only when the ETF actually starts trading.
2. The Impact of the US Government Shutdown: The US federal government shutdown has lasted for several weeks, disrupting the approval process for altcoin ETFs and bringing significant macro uncertainty to the entire financial market. This chaotic policy environment is elevating market panic and undermining the optimism brought by the institutionalization of encryption.
3. Favourable Information has been digested in advance: Before the confirmation of the news release, some smart money may have already positioned themselves in advance, resulting in the price incentive effect of the favourable information being weakened at the time of its official announcement.

ETF New Features: Increased Staking Yield Attractiveness

It is worth noting that institutional investors are currently pouring huge sums into the ETF market, and the Solana ETF is expected to be a standout among them. ( A friendly regulatory environment has even encouraged issuers to add new features such as Staking to altcoin ETFs, allowing the market to further diversify. For example, Bitwise's Solana Staking ETF not only holds SOL tokens but also earns network rewards through staking, which will undoubtedly enhance the product's appeal to institutional and retail investors seeking passive income.

Conclusion

Bitwise and Canary Capital confirm that the Solana )SOL( ETF and HBAR )Hedera( ETF are set to launch, marking an important milestone in the mainstreaming of cryptocurrencies. Although the market prices of SOL and HBAR have not reacted strongly to this, it more reflects the current market's cautious attitude towards the US regulatory environment and macroeconomic situation, rather than a rejection of institutional adoption trends. As these two ETFs begin trading, they are expected to bring new liquidity and momentum to the crypto industry and open the door for altcoin ETFs. We must patiently wait for tomorrow's trading to commence and observe the actual inflow of institutional funds to truly assess whether the Solana ETF can rebuild market momentum in the crypto industry as expected.