U.S. Launch of Solana Exchange-Traded Fund Imminent

For the first time in the United States, exchange-traded funds (ETFs) that track Solana (SOL) futures will officially launch on Thursday, March 20, 2025, as reported by Bloomberg.

Volatility Shares, an asset management firm based in Florida, has received approval to introduce the Solana futures ETFs, according to a Bloomberg report. This launch follows numerous applications for spot ETFs currently pending before the U.S. Securities and Exchange Commission (SEC).

The Volatility Shares Solana ETF, with the ticker symbol SOLZ, will monitor Solana futures and have an expense ratio of 0.95%.

On the other hand, the firm's other fund, the Volatility Shares 2X Solana ETF, with the ticker symbol SOLT, will provide leveraged exposure at 2x and have an expense ratio of 1.85%.

The debut of the two Solana futures ETFs coincides with Bitnomial, a Commodity Futures Trading Commission (CFTC)-regulated crypto derivatives exchange, announcing that its XRP (XRP) futures will go live on March 20, 2025. The exchange stated that this would be the first-ever XRP futures contract in the United States. Its launch follows the SEC's decision to drop its appeal against Ripple.

Volatility Shares, based in Florida, initially submitted a filing for the listing and trading of SOLZ and SOLT with the SEC in December 2024.

Justin Young, the company's chief executive officer, stated that the launch of the two products occurs during a time of renewed optimism in the U.S. market. This comes as President Donald Trump heads a pro-crypto administration, which industry players believe will help establish the U.S. as the world's crypto capital.

The U.S. already offers Bitcoin (BTC) and Ethereum (ETH) spot and futures ETFs.

However, experts believe that the shift in regulatory approach is just the beginning of bringing more digital asset investment products to the market.

According to Eric Balchunas, Bloomberg's senior ETF analyst, the introduction of Solana ETFs offering futures exposure suggests that the SEC could soon approve spot funds for SOL.

However, Balchunas notes that with investors likely to favor the spot ETF, the Volatility Shares funds could face challenges once the spot funds receive approval.