Solana Futures ETFs Set to Debut in the U.S.
By: Eliza Bennet
The cryptocurrency landscape is poised for a significant shift with the launch of Solana Futures Exchange-Traded Funds (ETFs) in the United States. Volatility Shares is gearing up to introduce these ETFs on March 20th, marking a historic moment as the first of their kind in the country. This launch will see two new products entering the market: the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT). These financial instruments are anticipated to diversify offerings in the crypto ETF space significantly.
The SOLZ ETF will offer investors exposure to Solana futures, while its counterpart, the SOLT ETF, will provide leverage at twice the returns of Solana's futures price movements. They are set with management fees of 0.95% and 1.85%, respectively, with the SOLZ management fee slated to rise slightly after June 2026. This strategic move by Volatility Shares reflects the growing optimism surrounding crypto innovations in the U.S., despite no spot Solana ETF being approved yet. This strategy mirrors the path previously taken by Bitcoin and Ethereum, where futures ETFs precede spot ETF approval.
The introduction of these ETFs highlights the evolving landscape of digital asset investment, following approved futures ETFs for Bitcoin and Ethereum. The Solana Futures commenced trading on the Chicago Mercantile Exchange (CME) on March 17, with trading volumes reported to be at $12.3 million on its launch day. While these figures are relatively modest when compared to Bitcoin's $102.7 million, experts suggest that when normalized to market cap, Solana's performance aligns with that of Bitcoin and Ethereum at similar stages of their launch.
Volatility Shares CEO, Justin Young, attributes this advance to a renewed favorability towards crypto innovation catalyzed by proactive political environments. Despite the initial hesitation reflected in the first trading volumes, the launch of the Solana Futures ETFs sets a precedent for potential future offerings and could pave the way for broader acceptance and interest in crypto investment vehicles in the financial sector.
