Is Solana Futures ETF Coming? Volatility Shares Apply to SEC

Volatility Shares, an asset management business, applied to establish a Solana futures ETF with the SEC. After several asset managers sought to create a spot Solana ETF this year, this strategic move was made.

Will Volatility Shares Increase Spot ETF Approval?

ETF Store president Nate Geraci said on December 27 on X that Volatility Shares has filed for a futures-based Solana ETF with the US SEC. A futures exchange-traded fund offers publicly traded securities that track the price of a cryptocurrency futures contract (SOL in this case).

Financial derivatives called futures contracts enable investors to bet on the price of an item without owning it. Volatility Shares plans to provide 1x, 2x, and -1x leverage products with the Solana futures ETF.

The SOL futures ETF with 1x exposure tracks the Solana futures price without leverage, whereas funds with 2x exposure leverage and double the price movement by 2x. Inverse exposure means Solana ETFs with -1x leverage gain value when futures contracts fall.

Given the asset manager's participation in Ether futures ETF approval, Geraci believes Volatility Shares' application may affect SOL spot ETFs. The asset management firm asked the SEC to approve crypto products in 2023.

The ETF Store president noted that the document stated, “Solana futures contracts that trade only on an exchange registered with the Commodity Futures Trading Commission.”

Volatility Shares' future-based Solana ETF filing is a welcome crypto move, according to Bloomberg ETF analyst Eric Balchunas. Balchunas believes this fresh filing will help the spot SOL ETF proposal.

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