Volatility Shares LLC created the first exchange-traded funds (ETFs) that track Solana futures products, introducing two new products: SOLZ and SOLT.
Launch of the First Solana ETFs
SOLZ will track Solana futures, while SOLT will offer leveraged exposure at twice the futures performance. These products mark the first time Solana futures are available in an ETF structure. SOLZ carries a 0.95% expense ratio, while SOLT has a 1.85% fee. The ETFs arrive amid increasing institutional interest in Solana, which has a market capitalization of approximately $68 billion.
Growing Interest in Solana ETFs
Approving Solana futures ETFs signals a growing interest in expanding crypto investment products. Similar markets often precede spot ETFs. Bitcoin and Ether followed this trajectory. Bloomberg Intelligence analysts estimate a 75% chance of spot Solana ETF approval this year.
Market Conditions and Future Outlook
The Solana price surged to $134.12 in one day, showing a 6.23% rise in the past 24 hours, with trading volume skyrocketing by 70% to hit $3.6 billion. Despite volatility, firms continue to explore new business opportunities.
The introduction of Solana futures ETFs matches current market trends, with asset managers expanding their product offerings. Regulatory approval might come soon.
