Summary
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Volatility Shares is launching the first Solana Futures ETFs in the US, set to begin trading on Nasdaq this Thursday, offering investors exposure to Solana price movements through futures contracts.
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Two ETFs will debut: SOLZ, tracking Solana futures directly, and SOLT, providing double the leveraged returns, expanding Volatility Shares’ portfolio of innovative crypto investment products.
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The SEC’s tacit approval of these futures-based ETFs is seen as a potential sign of recognizing Solana as a commodity, amidst ongoing considerations for spot Solana ETFs and broader market fluctuations influenced by factors like US tariffs.
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The launch follows the recent commencement of Solana futures trading on the CME and a prior listing of the ETFs by the DTCC, and coincides with Solana experiencing a recent price jump amidst overall market volatility related to external economic factors.
Volatility Shares, a Florida-based entity specializing in exchange-traded funds, has officially verified to Decrypt that its ETFs, designed to mirror Solana futures, are scheduled to commence trading on the Nasdaq within the United States, starting this Thursday.
Justin Young, co-founder and CEO of Volatility Shares, confirmed that the company will launch two distinct exchange-traded funds on Thursday.
These ETFs are constructed to track the price movements of Solana by utilizing futures contracts within the US market.
The Volatility Shares Solana ETF, designated as SOLZ, will directly follow Solana futures, which were recently introduced for trading in the U.S. through Coinbase’s derivatives division.
Complementing this, the Volatility Shares 2x Solana ETF, with the ticker SOLT, will provide investors with the opportunity to pursue magnified returns.
Both of these investment instruments are set for listing on the Nasdaq exchange, a detail initially reported by Bloomberg News.
Young elaborated on the strategic alignment of these new offerings with the company’s existing portfolio, noting, “We pioneered the introduction of leveraged Bitcoin and Ethereum ETFs in the US market, and this venture is a natural extension of our expertise.”
He emphasized the company’s drive to innovate and lead, stating, “This truly underscores our commitment to being first to market yet again.”
As the Securities and Exchange Commission (SEC) deliberates on applications from numerous asset management firms seeking to establish a spot Solana ETF within the US, Volatility Shares’ imminent ETF debut is being interpreted as an implicit acknowledgment by the SEC that Solana, a prominent alternative cryptocurrency, qualifies as a commodity.
Volatility Shares initially submitted its filing for a futures-based Solana ETF in December. According to registration documents publicly available on the company’s website, these filings remain “subject to completion.”
Interestingly, Volatility Shares had also previously filed for a “-1x Solana ETF.” However, Young indicated that the launch of this particular product has been “temporarily suspended,” despite receiving regulatory approval from the SEC.
The Depository Trust and Clearing Corporation (DTCC) included SOLZ and SOLT in its listings in the preceding month, predating the commencement of trading in futures contracts regulated by the Commodity Futures Trading Commission (CFTC).
Solana futures began trading on the Chicago Mercantile Exchange (CME) on Monday, generating a notional trading volume of $12.3 million.
Bitcoin and Ethereum futures were previously launched on the same exchange in 2017 and 2022, respectively.
Reflecting market optimism surrounding these developments, Solana‘s price experienced a 5% increase in Wednesday trading, reaching $130, according to data from cryptocurrency data provider CoinGecko.
Despite this recent surge, the asset’s value has declined by 27% over the past month, influenced by market anxieties among cryptocurrency traders triggered by the imposition of tariffs by US President Donald Trump.
Also Read: The Founder of dYdX Said the US Market Is Not “Worth the Hassle” for the Crypto Industry
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