In a galaxy not so far away, on Thursday, March 20, 2025, Solana exchange-traded funds (ETFs) tracking futures will make their grand entrance into the United States. Bloomberg, the intergalactic news source, has confirmed this cosmic event. 🚀
Volatility Shares, a Florida-based asset manager with a name that sounds like it was picked by a random word generator, has been granted the honor of launching the Solana (SOL) futures ETFs. This launch is happening amidst a flurry of spot ETF applications currently orbiting the U.S. Securities and Exchange Commission. 🌌
The Volatility Shares Solana ETF, with the ticker SOLZ, will track Solana futures and come with an expense ratio of 0.95%. Meanwhile, its sibling, the Volatility Shares 2X Solana ETF, with the ticker SOLT, will offer leveraged exposure at 2x and carry an expense ratio of 1.85%. Because why not double the fun and the fees? 💸
In a parallel universe, Bitnomial, a crypto derivatives exchange regulated by the Commodity Futures Trading Commission, announced that its XRP (XRP) futures will also go live on March 20, 2025. This will be the first-ever XRP futures contract in the U.S., following the SEC’s decision to drop its appeal against Ripple. 🎉
Volatility Shares first filed for the listing and trading of SOLZ and SOLT with the SEC in December 2024. According to Justin Young, the company’s chief executive officer, the launch of these two products arrives at a time when the U.S. market is enjoying renewed optimism. This optimism is fueled by President Donald Trump’s pro-crypto administration, which industry players believe will help establish the U.S. as the crypto capital of the world. 🌍
The U.S. already boasts Bitcoin (BTC) and Ethereum (ETH) spot and futures ETFs. However, experts believe the shift in regulatory approach is just the first step toward bringing more digital asset investment products to the market. 🛠️
According to Bloomberg’s senior ETF analyst Eric Balchunas, Solana ETFs offering futures exposure signal 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 struggle once the spot funds receive approval. 🎢
So, buckle up, space travelers! The crypto universe is expanding, and Solana ETFs are just the beginning. Whether they’ll be a hit or a cosmic flop remains to be seen. 🌠
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2025-03-19 21:02