Volatility Shares to Launch First-Ever Solana Futures ETF in the US
Volatility Shares is set to debut the first-ever Solana (SOL) futures exchange-traded fund (ETF) in the United States on March 20, as reported by Bloomberg News on March 19.
The issuer will introduce two new products: the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT).
Bloomberg ETF analyst Eric Balchunas drew comparisons to Bitcoin (BTC) ETFs BITO and BITX, noting that while the launch is significant, it may not reach the levels set by spot Bitcoin ETFs.
In a tweet, Balchunas added:
“It’s the first altcoin after Ethereum to be approved. But history has shown that ETF investors crave holding the physical asset as much as possible.”
Expanding SOL Offering
SOLZ will provide exposure to Solana futures, while SOLT will offer leveraged exposure at twice the returns of Solana futures movements. The ETFs will have expense ratios of 0.95% and 1.85% respectively.
Volatility Shares submitted its application to the US Securities and Exchange Commission (SEC) in December, aligning with the predicted trend of crypto-based ETFs by Bloomberg analysts Eric Balchunas and James Seyffart.
CEO Justin Young attributed the launch to the “renewed optimism for crypto innovation in the US” under President Donald Trump’s administration.
While a spot Solana ETF has not been approved by the SEC, industry analysts view these futures-based funds as a potential precursor, following the path taken by Bitcoin and Ethereum.
Interest in Futures
Solana futures began trading on the Chicago Mercantile Exchange (CME) on March 17.
Head of research Vetle Lunde from K33 highlighted that the launch day volumes of SOL futures reached $12.3 million, lower than BTC’s $102.7 million and ETH’s $31 million.
Open interest was also lower, with SOL futures reaching nearly $8 million compared to BTC and ETH exceeding $20 million on their launch days.
Despite these initial numbers, Lunde mentioned that when normalizing volumes to market caps, Solana aligns with Bitcoin and Ethereum.
