Volatility Shares, a Florida-based exchange-traded fund (ETF) issuer, will introduce two Solana futures ETFs on Thursday, marking a significant step in bringing the cryptocurrency to U.S. investors. The firm’s co-founder and CEO, Justin Young, confirmed the launch to Decrypt.
The Volatility Shares Solana ETF (SOLZ) will track Solana futures, which were recently introduced in the U.S. through Coinbase’s derivatives platform. Meanwhile, the Volatility Shares 2x Solana ETF (SOLT) will offer leveraged exposure to Solana’s price movements. Both funds will be listed on Nasdaq, as first reported by Bloomberg.
SEC Signals Recognition of Solana as a Commodity
Young highlighted that Volatility Shares was the first to launch leveraged Bitcoin and Ethereum ETFs in the U.S., positioning the firm at the forefront of crypto ETF innovation. The launch comes as the U.S. Securities and Exchange Commission (SEC) continues to review applications for a potential spot Solana ETF, an acknowledgment that the asset is being treated as a commodity.
Volatility Shares initially filed for a futures-based Solana ETF in December, and its registration statements remain “subject to completion.” Although the company had also sought approval for a -1x Solana ETF (allowing investors to short Solana), Young said that product is “on hold for now,” despite receiving regulatory clearance.
Solana Futures Gain Momentum
Before the ETFs’ debut, the Depository Trust and Clearing Corporation (DTCC) listed SOLZ and SOLT last month, preceding the launch of Solana futures trading under the Commodity Futures Trading Commission (CFTC)’s oversight.
Solana futures officially began trading on the Chicago Mercantile Exchange (CME) on Monday, generating $12.3 million in notional trading volume. Bitcoin and Ethereum futures were introduced on CME in 2017 and 2022, respectively.
Following the announcement, Solana’s price jumped 5% to $130 on Wednesday, according to CoinGecko. However, the asset remains 27% lower over the past month, as U.S. President Donald Trump’s tariffs have fueled uncertainty among crypto traders.
