Market Awaits Launch of Inaugural Solana Futures ETF This Week

First Solana Futures ETFs to Debut, Paving Way for Spot Approval

The first-ever Solana (SOL) futures exchange-traded funds (ETFs) will hit the market this Thursday, potentially laying the groundwork for a future spot Solana ETF.

Volatility Shares LLC has filed with the Securities and Exchange Commission (SEC) to launch two products:

• Volatility Shares Solana ETF (SOLZ): A standard Solana futures ETF.
• Volatility Shares 2X Solana ETF (SOLT): A leveraged fund offering double exposure to SOL price movements.

SOLZ comes with a 0.95% management fee, while SOLT’s fee stands at 1.85%, as per the SEC filing.

Solana, currently valued at $66.5 billion, ranks as the sixth-largest cryptocurrency. The token has surged 6% in the last 24 hours, keeping pace with broader crypto market trends.

A Stepping Stone Toward Spot ETF Approval?

The launch of Solana futures ETFs is seen as a key milestone for regulatory approval of a spot Solana ETF, which would directly hold SOL tokens rather than futures contracts. The SEC has previously indicated that a robust futures market is a prerequisite for any spot crypto ETF approval.

Following last year’s success of spot Bitcoin (BTC) and Ethereum (ETH) ETFs, firms such as Grayscale, Franklin Templeton, and VanEck have applied for a spot Solana ETF. However, these filings remain under SEC review.

Bloomberg Intelligence analysts estimate a 75% chance of approval by year’s end, but a final decision may depend on the Senate confirmation of Paul Atkins, President Donald Trump’s nominee for SEC chair. No hearing date has been set for Atkins yet.

About The Author

ctleditor

See author's posts