First Solana Futures ETF to Hit Markets This Week
These products represent an important step towards the approval of the Solana spot ETF.
Author: Helen Brown | Edited by: Stephen Alpher Updated March 20, 2025, 9:40 am UTC Published March 19, 2025, 7:12 pm UTC
What is important to know:
- Volatility Shares LLC is launching two exchange-traded funds (ETFs) that track Solana futures, with SOLZ offering standard exposure and SOLT offering leveraged exposure.
- The ETFs, the first to track Solana futures, come to market as issuers await SEC decisions on Solana spot ETFs, which analysts say have a 75% chance of approval by year-end.
- Approval of the Solana spot ETF may be contingent on the existence of a developed futures market that meets the SEC's criteria for spot cryptocurrency ETFs.
Two exchange-traded funds (ETFs) that track Solana (SOL) futures will hit the market on Thursday.
Volatility Shares LLC is launching two ETFs: the Volatility Shares Solana ETF (SOLZ), which will track Solana futures, and the Volatility Shares 2X Solana ETF (SOLT), which will offer leverage, according to a filing with the Securities and Exchange Commission (SEC).
According to the statement, the management fee for SOLZ will be 0.95%, while traders will pay 1.85% for SOLT.
The products will be the first funds to track futures on Solana, which is the sixth-largest cryptocurrency with a market cap of $66.5 billion. The token has gained 6% in the past 24 hours, in line with the broader crypto market trend.
The launch of these funds could have a significant impact on the approval of the Solana spot ETF, which would directly hold the token. The SEC has previously stated that they need to see a stable futures market for the asset to approve a spot product.
Following the emergence of Bitcoin (BTC) and Ethereum (ETH) spot ETFs last year, issuers are looking to bring new cryptocurrency products to market.
A number of issuers, including Grayscale, Franklin Templeton, and VanEck, have filed applications to launch a spot Solana ETF that have not yet been reviewed by the SEC. Bloomberg Intelligence ETF analysts estimate that the funds have a 75% chance of being approved by the end of the year.
However, a decision is unlikely to be made until President Donald Trump's nominee to chair the SEC, Paul Atkins, is confirmed by the Senate. No hearing for Atkins is currently scheduled.
