Altcoin ETFs Slam $69M In Trading Volume As FOMC Set To Pump BTC USD Price

Do crypto prices have to 100X before mainstream investors take note? Well, it looks like so. After the listing of Bitcoin futures after the 2017 frenzy, everything has since changed for crypto. The BTC USD price is above $110,000, and there are far more altcoins to choose from in the top 50.

True, promising altcoins of the yesteryears, such as Dash and Iota, have faded. In their place, however, are powerhouses. Solana, Hedera crypto, and some of the top meme coins, such as Memecore, dominate. Some have 1000X-ed from their launch prices, and as they evolve and play a key role in the global economy, the big boys of Wall Street want a share.

Presently, spot Bitcoin and Ethereum ETF issuers manage over $180Bn, and are some of the most closely watched regulated ETFs. Now, with the launch of multiple spot altcoin ETFs yesterday, the scene is about to change.

(Source: SosoValue)

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Altcoin ETFs Launch with a Bang: Over $65M In Trading Volume In 24 Hours

It will be hard for any altcoin to replicate the success of Bitcoin. Being the first mover has its own set of advantages. Spot Ethereum ETF issuers received over $1Bn on the first trading day.

Yesterday, on October 28, Bitwise Solana Staking ETF (BSOL), Canary Capital Litecoin ETF (LCC), and Canary Capital Hedera ETF (HBR) cumulatively processed over $65M.

By all standards, this is decent and is by far the largest amount processed on the first day on any leading bourse since the approval of spot Ethereum ETFs in July 2024.

Of the three, BSOL was the most attractive. The spot ETF offers +100% spot exposure to SOL and is built with in-staking rewards, yielding around +7% APY. It’s the first spot crypto ETF in the United States to enable staking for yield generation directly in a brokerage account. Over $69M of BSOL shares were traded on the first day.

JUST IN: @BitwiseInvest's spot Solana ETF ($BSOL) recorded $69.5 million in first-day inflows, nearly 480% higher than the $12 million recorded by $SSK on its debut. pic.twitter.com/1R2SaeTh1j

— SolanaFloor (@SolanaFloor) October 29, 2025

Meanwhile, LTCC and HBR ETFs also received a respectable reception, considering their relatively lower market cap. There are no clear data, but Eric Balchunas, a crypto ETF analyst, said roughly $5M of HBR and $4M of LTCC shares were bought.

Big day. Half an hour till post time. Three coins are getting first '33 Act spot ETFs. Time to guess Day One volume. Feel free to reply with your's, winner gets RT + pride. Here are mine.. $BSOL: $52m $HBR: $8m $LTCC: $7m

— Eric Balchunas (@EricBalchunas) October 28, 2025

While much was expected, traders and analysts should note that these spot crypto ETFs were launched when the government was still partly shut.

As such, these launches bypassed full SEC scrutiny since they used pre-filed “shell” structures and 20-75-day review windows. Once the government is fully operational, the SEC could impose more disclosures.

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Will The BTC USD Price Pump After FOMC Today?

It is likely that more BSOL shares will be bought going forward. JPMorgan analysts project between $1.5 and $5Bn in inflows within the first year alone. With more BSOL and SOL held by corporates, the total supply of SOL crypto will tighten, directly boosting prices.

The institutions are here for SOL.

The first-ever U.S. Spot Solana ETF just went live.

Fidelity just added SOL custody.

JPMorgan analysts predict SOL ETFs could see $1.5B-$5B in year 1 flows.

The stampede is just beginning.

— Juan Leon (@singularity7x) October 28, 2025

In the short term, however, the SOL USD price could shake off weakness and rise above key resistance levels. The $200 and $250 levels are critical for Solana bulls.

Even so, how fast the SOL crypto price will rally depends on the performance of the BTC USD price.

As 99Bitcoins reported, the FOMC and Jerome Powell will likely slash rates today. If it does, as economists and Polymarket punters expect, the odds of the Bitcoin price breaking above $120,000 will increase.

On X, one analyst thinks Powell’s presser will be a market mover. With the Fed’s bank reserves falling below $3T, he believes the central bank will end its quantitative tightening program, allowing more money into the system.

The FED FOMC rate cut decision will be announced tomorrow at 2pm ET.

The market is expecting a 25 bps rate cut at this meeting, so it won't impact the market much.

What's even more important is Powell's speech, which will start at 2:30pm ET.

The job market is already… pic.twitter.com/vb1D7dYLYU

— Ash Crypto (@Ashcryptoreal) October 28, 2025

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