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
More Stories
Bitcoin drops under $71,000 while stocks end the day near session lows as expectations for a 2026 Fed rate cut dim further.
Fed pauses rate changes as the Iran conflict clouds the economic outlook and fuels inflation fears.
Cheap money is now behind us as ongoing conflict with Iran locks in a higher baseline for inflation.