Volatility shares launch the very first Solana (SOL) Futures Exchange-Traded Fund (ETF) on March 20, Bloomberg News reported on March 19.
The issuer will introduce two products: the Volatility Shares Solana ETF (SOLZ) and the Volatility shares 2x Solana ETF (SOLT).
Bloomberg ETF analyst Eric Balchunas compared them to Bitcoin (BTC) ETFS Bito and Bitx. He also noted that the launch will probably not meet the standards set by Spot Bitcoin ETFs.
He added:
“It is the first altcoin after Ethereum has to be approved. But history has shown that ETF investors crave the physical possession as much as possible.”
Expansion of SOL offer
SOLZ will offer exposure to Solana Futures, while SOLT LeverDaged exposure offers twice the returns of Solana Futures movements. The ETFs have cost ratios of 0.95% and 1.85% respectively.
Volatility shares initially submitted its application to the US Securities and Exchange Commission (SEC) in December and continued the trend of crypto-based ETFs predicted by Bloomberg analysts Eric Balchunas and James Seyffart.
Volatility shares CEO Justin Young has credited the launch for “renewed optimism for crypto -innovation in the US”, brought by the government of President Donald Trump.
Although the SEC has not approved Spot Solana ETF, industrial analysts see these funds -based funds as a potential precursor. Bitcoin and Ethereum took a similar path, with issues who introduced futures ETFs before they received approval for spot ETFs.
Hunger for Futures
The first Solana Futures began to act on the Chicago Mercantile Exchange (CME) on 17 March.
K33 head of research Vetle Lunde marked That the launch day volumes of SOL -Futures reached $ 12.3 million, considerably among BTCs $ 102.7 million and ETHs $ 31 million.
Open interest was also considerably smaller, with Sol -Futures reaching nearly $ 8 million, while BTC and ETH reached at least $ 20 million in their launches.
Despite the apparently matte figures, Lunde said that by normalizing the volumes to the market capitals of the assets, Solana, Solana fits in with both Bitcoin and Ethereum.
