Solana, the sixth largest crypto asset by market cap, is now also joining the ETF frenzy with two debutant exchange traded funds being launched on Thursday in the U.S. The newest SOL ETFs will be based on futures and it is launched by Volatility Shares – one of the largest ETF management firms.
After Bitcoin and Ethereum, SOL currently holds the status of third most popular crypto asset and the launch of its ETF has spread optimism within the crypto community. Although its futures ETH this time, the launch will open doors for a potential spot Solana ETF in coming months.
As per the Bloomberg report, Volatility Shares submitted the necessary paperwork to the U.S. SEC in December 2024 while their both ETFs are to be listed tomorrow on March 19, 2025 within the U.S. market.
As per the latest filing, the Volatility Shares Solana ETF (SOLZ) will track Solana Futures while Volatility Shares 2X Solana ETF (SOLT) will track 2X leveraged exposure. Both the ETFs will have attached fees of 0.95% and 1.85% respectively.
“Our launch comes at a time of renewed optimism for cryptocurrency innovation in the US,” said Justin Young, CEO at Volatility Shares, adding “We believe the Trump administration recognizes the strategic importance of maintaining American leadership in financial technology.”
These will be the first institutional products for Solana that grants access to SOL investments but it will not directly buy the asset. However, several industry leaders predict that this fund signs for an upcoming spot SOL ETF in future. Both Bitcoin and Ethereum had followed the similar path for their spot ETF to be listed.
“It’s the first altcoin after Ether to be approved. But history has shown that ETF investors crave holding the physical asset as much as possible,” said Bloomberg analyst Eric Balchunas. “It could have some issues when a spot is approved.”
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