A new and interesting development has been recorded in Solana, one of the world's largest cryptocurrencies. Here are all the details.

Asset management firm Volatility Shares has filed with the U.S. Securities and Exchange Commission (SEC) to launch three new exchange-traded funds (ETFs) tied to Solana futures.
However, the offering faces a unique hurdle, as no Solana futures products are currently available on any Commodity Futures Trading Commission (CFTC)-regulated exchange.
According to the fund’s prospectus, the proposed ETFs would invest only in futures contracts traded on CFTC-registered exchanges. This is questionable since Solana futures contracts do not yet exist and there is no approved spot Solana ETF.
“This is crazy,” Bloomberg ETF analyst Eric Balchunas said in a post on social media platform X (formerly Twitter). Balchunas added that the filing could signal that Solana futures could soon become a reality, which “probably bodes well” for future approval of spot ETFs.
Offering a broader regulatory perspective, Nate Geraci, president of ETF Store, suggested that the filing could reflect a shift in the ongoing power struggle between the SEC and CFTC over digital asset oversight. “The CFTC may be winning its power struggle with the SEC over digital asset regulation,” Geraci commented.
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The move also reignites speculation about which digital asset could be next in line to receive ETF approval, with some experts believing Solana could lead the way, while others have expressed optimism that XRP or other cryptocurrencies could be considered.
Volatility Shares is no stranger to disrupting the ETF space. It launched its first leveraged Bitcoin futures ETF in June 2023, followed by a 2x Ether ETF a year later. These products have since paved the way for other asset managers to explore leveraged funds targeting cryptocurrency futures.

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