First Solana Futures ETFs in US Set to Begin Trading Thursday

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8 hours ago

Volatility Shares, a Florida-based issuer of exchange-traded funds, will debut two ETFs on Thursday that track Solana’s price using futures contracts in the U.S., the firm’s co-founder and CEO Justin Young confirmed to Decrypt.


The Volatility Shares Solana ETF (SOLZ) will track Solana futures, which recently launched in the U.S. through Coinbase’s derivatives arm, while the Volatility Shares 2x Solana ETF (SOLT) will allow investors to access amplified returns. Both funds will be listed on the Nasdaq, as first reported by Bloomberg.


“We launched the first leverage Bitcoin and Ethereum ETFs in the U.S., so this fits really well into our wheelhouse,” he told Decrypt. “It’s really us being first to market again.”


As the SEC mulls applications from several asset managers that seek to establish a spot Solana ETF in the U.S., Volatility Shares’ debut represents a tacit acknowledgement from the SEC that the top altcoin is a commodity.


Volatility Shares first filed for a futures-based Solana ETF in December, and registration statements posted to the firm’s website say they are “subject to completion.”


At the time, Volatility Shares filed for a “-1x Solana ETF.” However, the company has put that offering “on hold for now” despite a green light from the SEC, Young said.


The Depository Trust and Clearing Corporation (DTCC) listed SOLZ and SOLT last month before futures regulated by the Commodity Futures Trading Commission began trading.


Solana futures began trading on the Chicago Mercantile Exchange (CME) on Monday, generating $12.3 million in notional trading volume. Bitcoin and Ethereum futures debuted on the exchange in 2017 and 2022, respectively.


Solana’s price jumped 5% to $130 in Wednesday trading, according to the crypto data provider CoinGecko. Over the past month, the asset has dropped 27% as U.S. President Donald Trump’s tariffs have unsettled crypto traders on edge.


Edited by James Rubin


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