Volatility Shares, a Florida-based issuer of exchange-traded funds, will debut two ETFs on Thursday that track Solana’s price using futures contracts in the U.S., the firm’s co-founder and CEO Justin Young confirmed to Decrypt.
The Volatility Shares Solana ETF (SOLZ) will track Solana futures, which recently launched in the U.S. through Coinbase’s derivatives arm, while the Volatility Shares 2x Solana ETF (SOLT) will allow investors to access amplified returns. Both funds will be listed on the Nasdaq, as first reported by Bloomberg.
“We launched the first leverage Bitcoin and Ethereum ETFs in the U.S., so this fits really well into our wheelhouse,” he told Decrypt. “It’s really us being first to market again.”
Solana Futures Start Quietly on CME, Fall Short of Bitcoin and Ethereum’s Early Hype: K33
Solana (SOL) futures trading in its debut on the Chicago Mercantile Exchange (CME) Monday generated $12.3 million in notional daily volume, finishing the day with $7.8 million in open interest, far less than the totals of Bitcoin and Ethereum futures in their launches, according to K33 Research. But in an X post Tuesday, K33 Head of Research Vetle Lunde wrote that the SOL futures start was similar to BTC and Ethereum relative to their market capitalizations at the time. "If you normalize volumes...
As the SEC mulls applications from several asset managers that seek to establish a spot Solana ETF in the U.S., Volatility Shares’ debut represents a tacit acknowledgement from the SEC that the top altcoin is a commodity.
Volatility Shares first filed for a futures-based Solana ETF in December, and registration statements posted to the firm’s website say they are “subject to completion.”
Are Solana ETF Approvals ‘In the Bag’? Experts Weigh In
Despite favorable odds for approval, the debut of exchange-traded funds based on the price of Solana in the U.S. is far from certain pending regulatory review, ongoing enforcement actions, and public comment on the multiple filings. A lot can change for Solana hopefuls before they potentially start trading. “Right now, the only thing that's happened is they didn't get a phone call telling them to go away,” Bloomberg Senior ETF Analyst Eric Balchunas told Decrypt. The SEC began weighing applicat...
At the time, Volatility Shares filed for a “-1x Solana ETF.” However, the company has put that offering “on hold for now” despite a green light from the SEC, Young said.
The Depository Trust and Clearing Corporation (DTCC) listed SOLZ and SOLT last month before futures regulated by the Commodity Futures Trading Commission began trading.
Solana Deletes Controversial Ad Following Crypto Community Backlash
Solana has removed its "America is Back—Time to Accelerate" ad, following intense criticism from the crypto community on X, with labels such as "offensive," "cringe," and "divisive." The now-deleted ad was posted Monday a few minutes before noon in New York and had garnered over 1.4 million views by dusk. The post featured patriotic themes and apparent political messaging, in particular against gender diversity. What caught the attention of the crypto community was a scene in the video where a y...
Solana futures began trading on the Chicago Mercantile Exchange (CME) on Monday, generating $12.3 million in notional trading volume. Bitcoin and Ethereum futures debuted on the exchange in 2017 and 2022, respectively.
Solana’s price jumped 5% to $130 in Wednesday trading, according to the crypto data provider CoinGecko. Over the past month, the asset has dropped 27% as U.S. President Donald Trump’s tariffs have unsettled crypto traders on edge.
Edited by James Rubin
