Bitwise solana ETF continues to break records despite solana’s price slump

Despite solana’s price sinking along with the rest of the crypto market, the new ETF is off to a strong start.

10/30/25 10:25AM

On its second day on the market, the Bitwise Solana Staking ETF smashed its first-day record, recording $72 million in volume. That beat the $56 million in volume it saw on launch day, the highest of any ETF launched this year.

The fund has seen over $116 million in inflows so far, according to SoSoValue.

Meanwhile, Grayscale’s Solana Trust ETF saw $1.4 million in inflows on its first trading day.

These solana funds have been able to list faster thanks to the new generic listing standards the SEC approved last month, which don’t require 19b-4 filings.

Additional solana ETFs are set to hit the market soon, including one from Fidelity, which amended its SEC S-1 filing on Wednesday.

Solana itself taking a hit, along with the broader crypto market, and is down 6.8% in the past 24 hours.

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Justin Sun sues Trump-backed World Liberty over frozen tokens

Crypto billionaire Justin Sun, owner of the world’s most expensive banana, was named an adviser to World Liberty Financial the day after investing $30 million in the project. (He’d later boost that with $45 million more.) Sun has long been a supporter of President Trump, and has not once, but twice topped a competition to amass the most $TRUMP coins. But it seems even for Sun, the gold has turned brass.

Sun announced on social media that he’s filed a lawsuit in a California federal court against the crypto project backed by Trump.

The lawsuit alleges World Liberty engaged in an “illegal scheme to seize property” and “positioned itself as the new boogeyman” by stripping Sun of his governance rights, threatening to burn his WLFI tokens, and freezing his stash, which at times were worth $1 billion, according to the complaint dated on Tuesday.

“I have tried in good faith to resolve this situation with the World Liberty project team without resorting to litigation,” Sun wrote in a lengthy X post on Tuesday night. “But the project team has refused my requests to unfreeze my tokens and restore my rights as a token holder. They have left me with no choice but to turn to the courts.”

The complaint also alleged that World Liberty appears to be in financial trouble, citing concerns over whether the project can repay an on-chain loan that was collateralized by using, at the time, $5 billion worth of WLFI. The token reached an all-time low less than two weeks ago.

Despite the escalation with World Liberty, Sun said the lawsuit does not change his feelings about Trump or his administration. “I have always been — and remain — an ardent supporter of President Trump and his Administration’s efforts to make America crypto friendly,” he said.