Volatility Shares, an exchange-traded fund provider based in Florida, has confirmed the launch of two Solana futures-based ETFs on the Nasdaq exchange, scheduled to begin trading on Thursday.
Justin Young, co-founder and CEO of Volatility Shares, verified the planned debut to Decrypt.
Bloomberg initially reported the listing of both funds on the Nasdaq.
According to Young, this move aligns with the firm’s strategy of pioneering leveraged crypto investment products in the U.S. market, following their introduction of the first leveraged Bitcoin and Ethereum ETFs.
He stated that being first to market with Solana futures ETFs is a key aspect of their business approach.
Solana ETFs Debut: US Investors Gain Futures Exposure
The introduction of these futures ETFs by Volatility Shares occurs amidst ongoing SEC consideration of applications for spot Solana ETFs from various asset managers.
This launch of futures-based products can be interpreted as a de facto acknowledgment from the SEC that Solana, a prominent altcoin, is categorized as a commodity.
Volatility Shares initially filed for a futures-based Solana ETF in December. Registration documents available on the company’s website indicate that these filings were “subject to completion.”
Previously, Volatility Shares had filed for a “-1x Solana ETF,” but Young indicated that this inverse product is currently “on hold,” despite receiving regulatory approval.
Milestone for Solana: Futures ETFs Launch on Nasdaq
The Depository Trust and Clearing Corporation (DTCC) had listed SOLZ and SOLT in the prior month, prior to the commencement of trading in Commodity Futures Trading Commission (CFTC)-regulated Solana futures.
Solana futures trading commenced on the Chicago Mercantile Exchange (CME) on Monday, reaching a notional trading volume of $12.3 million.
Bitcoin and Ethereum futures trading began on the CME in 2017 and 2022, respectively.
Solana’s market price experienced a 5% increase to $130 during Wednesday trading, as reported by CoinGecko, a cryptocurrency data provider.
However, over the past month, the asset has decreased by 27%, influenced by market uncertainties related to U.S. President Donald Trump‘s proposed tariffs, which have impacted cryptocurrency market sentiment.
Also Read: Solana Unstaked Moved to FTX-Linked Wallets
