Volatility Shares Files for Solana Futures ETF
Date: 2024-12-30 Author: Oliver Abernathy Categories: BUSINESS
Volatility Shares has filed with the U.S. Securities and Exchange Commission (SEC) to establish an exchange-traded fund (ETF) that will focus on investing in Solana (SOL) futures contracts.
The filing specifies that the fund will be based exclusively on instruments traded on Commodity Futures Trading Commission (CFTC)-registered exchanges. However, there are no such products on the market yet, as there are no spot Solana ETFs.
The new fund plans to offer three leverage options: standard (1x), increased (2x), and inverse (-1x).
Bloomberg stock analyst Eric Balchunas expressed optimism, calling the proposal “a strong signal that Solana futures are coming,” which could also increase the chances of a spot ETF. In turn, Nate Geraci, president of The ETF Store, noted that the move could affect the dynamics of the regulatory battle between the SEC and the CFTC, increasing the likelihood of the latter strengthening its position in the field of digital asset regulation.
It is worth recalling that on November 21, the Chicago Board Options Exchange filed 19b-4 documents for four applications for spot Solana ETFs from VanEck, 21Shares, Canary, and Bitwise. Following them, on December 3, Grayscale filed its application. However, as of December 5, the SEC has notified at least two of these issuers of its intention to reject their requests.
Alexander Blum, CEO of Two Prime Digital Assets, previously predicted that Solana funds could launch no later than the end of 2025.
