First Solana Futures ETF To Hit Markets This Week

Two exchange-traded funds (ETFs) tracking futures successful Solana (SOL) are coming connected the marketplace connected Thursday.

According to a filing with the Securities and Exchange Commission (SEC), Volatility Shares LLC is launching 2 ETFs, the Volatility Shares Solana ETF (SOLZ) which volition way Solana futures and the Volatility Shares 2X Solana ETF (SOLT), which offers leveraged exposure.

SOLZ volition person a absorption interest of 0.95% portion traders volition beryllium charged 1.85% for SOLT, according to the filing.

The products volition beryllium the first-ever funds tracking futures successful Solana, which astatine a marketplace headdress of $66.5 cardinal is the sixth largest cryptocurrency connected the market. The token is up 6% implicit the past 24 hours, successful enactment with the broader crypto market.

The motorboat of these funds could beryllium important successful the support of a spot Solana ETF, which would clasp the token directly. The SEC has stated successful the past that successful bid to o.k. a spot product, they would similar to spot an established futures marketplace for the asset.

After the motorboat of the spot Bitcoin (BTC) and Ether (ETH) ETFs past year, issuers person been looking to bring further crypto-related products to the market.

Several issuers, including Grayscale, Franklin Templeton and VanEck, person filed paperwork to motorboat a spot Solana ETF, which person yet to beryllium reviewed by the SEC. Bloomberg Intelligence ETF analysts judge determination to beryllium a 75% accidental for those funds to beryllium approved by the extremity of this year.

However, a determination apt won’t beryllium made earlier Paul Atkins, who has been nominated by President Donald Trump to service arsenic seat of the SEC, is confirmed by the Senate. There is presently nary proceeding scheduled for Atkins.