Solana (SOL) Funds (ETF) tracking futures at two exchange destinations are on the market on Thursday.
Volatility Share LLC has launched two ETFs, according to a filing with the Securities and Exchange Commission (SEC). Volatility stakes Solana futures (SOLZ) in stock, while volatility tracks Solana ETF (SOLT) twice as much.
According to the filing, Solz will have a 0.95% management fee of 0.95%, and traders will be charged 1.85% against SOLT.
The product will be the first fund to track futures in Solana, with a market capitalization of $66.5 billion, making it the sixth largest cryptocurrency in the market. Tokens have grown by 6% in the last 24 hours, along with the broader crypto market.
The launch of these funds may be important in the approval of Spot Solana ETFs, which hold the token directly. The SEC says it wants to see an established futures market for assets in order to approve spot products in the past.
After the launch of Spot Bitcoin (BTC) and Ether (ETH) ETFs last year, publishers hope to bring more crypto-related products to the market.
Several publishers, including Grayscale, Franklin Templeton and Vaneck, have filed paperwork to launch a Solana ETF that has not yet been reviewed by the SEC. Bloomberg Intelligence ETF analysts believe there is a 75% chance that these funds will be approved by the end of this year.
However, no decision will be made before the Senate confirms Paul Atkins, who was appointed by President Donald Trump to chair the SEC. Atkins currently has no scheduled hearings.
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