Momentum Snaps: Crypto ETFs Hit Four-Month Lows as Risk Appetite Recedes

Bitcoin briefly dipped below $100,000 midday Tuesday, marking its first time below that level since June and reflecting a sharp correction from its all-time high near $125,000 in October. Ether also weakened, sliding under $3,400, a price last seen in mid-July, and is now down about 30% from its August peak. The broader crypto market has seen significant declines, with Solana plunging nearly 40% from its September high.

Recent Crypto ETF Launches

Despite the downturn, the crypto ETF ecosystem continues to expand. Bitwise launched the Solana Staking ETF (BSOL), which attracted about $420 million in assets but is already down roughly 20% from its launch price due to the broader market sell-off. Canary Capital debuted the first U.S.-listed spot ETFs for Litecoin (LTCC) and Hedera (HBR) in late October, marking a milestone for altcoin ETFs. Grayscale also uplisted its Solana Trust ETF (GSOL) to NYSE, signaling growing regulatory acceptance for staking-based ETPs.

Upcoming and Notable ETF Developments

Canary Capital is preparing to launch the first U.S. spot XRP ETF, with a targeted debut around November 13, pending Nasdaq approval. Bitwise and other issuers are also close to launching their own XRP spot ETFs, with filings updated and regulatory hurdles cleared. These launches represent a significant step toward integrating more digital assets into regulated U.S. markets.

Market Sentiment and ETF Performance

The iShares Bitcoin Trust (IBIT) remains the largest crypto ETF with $85.5 billion in assets, but is up only 7.7% year-to-date, having given up much of its earlier gains. The iShares Ethereum Trust (ETHA) has also lost nearly all its 2025 gains, reflecting the broader market pullback. Investor sentiment has turned cautious, with the crypto fear and greed index shifting to "fear" as outflows from spot Bitcoin and Ether ETFs continue.

Summary

The crypto market is experiencing a sharp correction, with Bitcoin and Ether well off their highs and altcoins like Solana suffering even steeper declines. Despite this, new ETF launches—especially for altcoins like Litecoin, Hedera, and XRP—are expanding the regulated crypto investment landscape, signaling continued institutional interest even amid volatility.

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