2025-03-20
Volatility Shares, a Florida-based
company that offers exchange-traded funds (ETFs), will be launching two Solana-related
ETFs on March 20, 2025.
The Volatility Shares Solana ETF (SOLZ)
will track Solana’s price using futures contracts, while the Volatility Shares
2x Solana ETF (SOLT) will offer investors a chance to get higher returns. Both
ETFs will be listed on Nasdaq, according to Bloomberg.
The company’s CEO, Justin Young, said
they were also the first to launch leveraged Bitcoin and Ethereum ETFs in the
U.S., so this move aligns with their strategy.
The SEC is still reviewing applications
for a spot Solana ETF, which would directly hold Solana rather than use
futures. However, Volatility Shares’ launch of futures ETFs suggests that the
SEC acknowledges Solana as a commodity.
Volatility Shares first applied for a
futures-based Solana ETF in December. The company had also planned a “-1x
Solana ETF” (which would allow betting against Solana’s price) but has paused
that plan for now, even though the SEC had approved it.
The Depository Trust and Clearing
Corporation (DTCC) listed the SOLZ and SOLT ETFs last month before Solana
futures started trading under the Commodity Futures Trading Commission (CFTC)
rules.
Solana futures began trading on the Chicago
Mercantile Exchange (CME) on Monday, reaching $12.3 million in trading volume.
Bitcoin and Ethereum futures previously launched on CME in 2017 and 2022,
respectively.
