Bloomberg reports that Solana futures ETFs will be launched in the United States for the first time.
Details of the Solana ETF Launch
Volatility Shares, a Florida asset manager, has approval to debut Solana futures ETFs. The first fund, with ticker SOLZ, will track Solana futures and have an expense ratio of 0.95%.
Volatility Shares' Other Plans
The firm's other fund, Volatility Shares 2X Solana ETF with ticker SOLT, offers leveraged exposure at 2x and carries an expense ratio of 1.85%. This launch coincides with Bitnomial's announcement of XRP futures trading.
Impact on the Crypto Market
Experts believe the approval of Solana futures ETFs suggests the SEC might soon approve spot funds for SOL. Company CEO Justin Young links the market optimism to the pro-crypto stance of the U.S. administration. However, analysts warn about potential difficulties for Volatility Shares if spot ETFs are approved.
The launch of Solana futures ETFs is a significant event for the US crypto market, reflecting changes in regulation and investor sentiment.
