Funding agency Volatility Shares has taken a major step by submitting with the U.S. Securities and Trade Fee (SEC) to introduce a Solana futures exchange-traded fund (ETF).
This proposal arrives after earlier makes an attempt by varied asset managers to launch a spot Solana ETF earlier within the yr.
On December 27, Nate Geraci, president of the ETF Retailer, disclosed on the X platform that Volatility Shares submitted its software for a futures-based Solana ETF.
Such a ETF would enable buyers to achieve publicity to Solana’s value actions by futures contracts, relatively than straight proudly owning the cryptocurrency.
The appliance outlines plans for 3 kinds of funds:
1x Publicity: Tracks Solana futures costs with out leverage.
2x Publicity: Gives leveraged publicity, doubling value actions.
-1x Publicity: Supplies inverse publicity, profiting when Solana futures decline.
Geraci famous the potential significance of this transfer for spot ETFs, given Volatility Shares’ pivotal position within the SEC’s approval of Ether futures ETFs in 2023. The submitting specifies that these futures contracts would commerce on Commodity Futures Buying and selling Fee-registered exchanges, including regulatory readability.
Bloomberg ETF professional Eric Balchunas described the submitting as a promising improvement, suggesting it might positively affect the approval prospects of a spot Solana ETF. Trade consultants see this as one other step ahead in increasing institutional crypto funding choices.
