Volatility Shares has filed an application with the SEC for the approval of the first leveraged Solana ETFs in the US. This development could mark a significant step in the market's evolution.
Details of Volatility Shares' Application
Volatility Shares is proposing to create ETFs based on Solana futures, providing leverage of 1x, 2x, and -1x. Nate Geraci, president of The ETF Store, highlighted that these ETFs will trade exclusively on exchanges registered with the Commodity Futures Trading Commission.
Potential Prospects for Solana ETFs
The introduction of the first US-leveraged Solana ETFs is set against the backdrop of successful launches of spot Bitcoin and Ethereum ETFs and a more favorable regulatory environment for cryptocurrencies. These developments bolster confidence in the potential approval of Solana ETFs.
Current Market Situation for Crypto ETFs
If the SEC approves the application, these would be the first leveraged Solana ETFs available in the US markets. In May, Volatility Shares launched the first US leveraged Ethereum ETF.
Volatility Shares' application for leveraged Solana ETFs underscores the growing interest in cryptocurrency futures. This could further aid the development of the crypto market in the US.
