Volatility Shares Launches First Solana Futures ETFs Amid US Crypto Optimism
1min read Volatility Shares LLC, a Florida-based ETF firm, is set to launch the first-ever funds tracking Solana futures, marking a significant milestone in the cryptocurrency market. The debut of these funds follows the successful launch of Bitcoin products and comes at a time of renewed optimism for cryptocurrency innovation in the US. The Volatility Shares Solana ETF (ticker SOLZ) will track Solana futures, while the Volatility Shares 2X Solana ETF (SOLT) will offer twice the leveraged exposure. These products will carry expense ratios of 0.95% and 1.85%, respectively. The firm first submitted paperwork to the US Securities and Exchange Commission for the funds in December.
Justin Young, the chief executive officer of Volatility Shares, expressed his enthusiasm for the launch, stating that the Trump administration recognizes the strategic importance of maintaining American leadership in financial technology. The debut of these products follows the launch of Ether offerings, which have seen outflows amid recent market volatility. While Solana ETFs holding the coin directly aren’t currently available, industry watchers view the Volatility Shares funds as a sign that a spot fund for the crypto is next up. Both Bitcoin and Ether followed a similar path; issuers launched futures products first then spot ETFs.
Solana first garnered widespread attention when it was championed by Sam Bankman-Fried. After his crypto exchange FTX and affiliated Alameda Research fund imploded in 2022, Solana’s survival was in question. But it has since staged a comeback, thanks to the lower fees it charges in contrast to its rivals. The new funds also show how ETF firms are still pitching offerings to speculative investors who continue to have an appetite for risk despite the recent market meltdown. Issuers are also defying naysayers who argue the ETF market is already saturated. This year has seen more filings for new ETFs that track everything from altcoin Avalanche, to the SUI token that has a market value, to spot Bitcoin and carbon credit futures.
The launch comes as the Trump administration embraces digital assets, spurring a slew of new market initiatives including fresh funds and so-called staking. Among the asset managers that have filed for spot Solana ETFs are Franklin Templeton, Grayscale and VanEck. The debut of these products is a significant step forward for the cryptocurrency market, as it provides investors with new opportunities to gain exposure to Solana. The launch of these funds is also a testament to the growing interest in cryptocurrencies and the potential for further innovation in the financial technology sector.
