Volatility Shares LLC has announced the launch of two new ETF products tracking Solana futures. These products are likely to engage investors and the financial sector, drawing attention to a new market opportunity.
New Solana ETF Products
The launched ETFs include the Volatility Shares Solana ETF (SOLZ), tracking Solana futures, and the Volatility Shares 2X Solana ETF (SOLT), offering leveraged investment opportunities. A management fee of 0.95% will apply to SOLZ and 1.85% to SOLT. These products are notable for being the first funds based on Solana futures.
Outlook for Solana
With a market capitalization of approximately $66.5 billion, Solana is the sixth-largest cryptocurrency. It has shown a 6% increase in the last 24 hours, in line with the overall dynamics of the crypto market. These new ETFs are anticipated to contribute positively to the approval process for Solana’s direct indexed spot ETF in the future.
Impact on SEC Approval
The SEC has previously indicated the importance of having a robust futures market for the approval of spot products. The arrival of these new ETFs coincides with a period where SEC approval processes will be critical. A final decision is expected upon the completion of the approval process for presidential candidate Paul Atkins.
The launch of new ETF products allows Solana to enter the futures market, paving the way for potential approval of spot products in the future. Investors should closely follow the steps from regulatory bodies in the upcoming year.
