Latest news with #SOLZ
Yahoo
20-05-2025
- Business
- Yahoo
Solana ETFs Show Promise for Crypto Beyond Bitcoin
There's a lot of buzz about what's next for crypto ETFs. After the high-profile debuts of Bitcoin and Ether funds, investors are eager to see which digital assets might be wrapped up into ETFs next. Well, the 'next' has already arrived, albeit with little fanfare. In March, the first two U.S.-listed Solana ETFs quietly hit the market. These are not the long-awaited spot products that many in the crypto community are hoping for. Instead, they're futures-based ETFs: the Solana ETF (SOLZ) and the 2x Solana ETF (SOLT), both from Volatility Shares. So far, they've held their own. Since launching on March 20, SOLZ and SOLT have attracted $13 million and $21 million in inflows, respectively. Thanks to price gains in Solana, assets under management have risen to $17 million for SOLZ and $32 million for SOLT. That's not a breakout success, but it's solid for a pair of niche ETFs in their first two months. For context, the first Bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO), exploded out of the gate in 2021, reaching $1 billion in assets within two days. But Ether futures ETFs, launched in bulk in 2023, had a much more subdued reception. Combined, they had less than $30 million in AUM shortly after launch. In that light, SOLZ and SOLT's early traction looks more like that of the Ether futures ETFs than BITO's blockbuster debut. And that makes sense. Bitcoin is still king, with a market cap of $2 trillion, dwarfing Ether at $300 billion and Solana at $90 billion. Still, Solana shouldn't be dismissed. The leveraged SOLT ETF, in particular, has the potential to be a popular product. Leveraged crypto ETFs have done well—Volatility Shares' 2x Bitcoin Strategy ETF (BITX) has amassed $2.7 billion in AUM, while its 2x Ether Strategy ETF (ETHU) has $857 million. That bodes well for SOLT, which uses a similar structure and caters to the same speculative audience. SOLZ, the nonleveraged version, may face a tougher road. Most buy-and-hold investors prefer spot crypto ETFs over futures-based versions when they're available. There's $130.3 billion in spot crypto ETFs in the U.S. versus just $8.7 billion in derivatives-based funds. And within that $8.7 billion, $5.3 billion is in leveraged strategies, leaving only about $3.4 billion in plain vanilla futures-based funds. So while the SOL futures ETFs are off to a decent start, their fortunes are likely to diverge upon the expected arrival of spot Solana | © Copyright 2025 All rights reserved
Yahoo
16-04-2025
- Business
- Yahoo
First Spot Solana ETFs to Hit Canadian Market This Week
While U.S. issuers are still waiting for the approval of a spot Solana (SOL) exchange-traded fund (ETF), Canadian investors will be able to trade such funds on the Toronto Stock Exchange starting Wednesday. Four asset managers are set to bring their product to the market, including Purpose, Evolve, CI and 3iQ, all of which will have staking abilities as well, according to a TD Cowen note shared by ETF analyst Eric Balchunas. Consensus 2025 takes place in Toronto May 14-16. Click here for tickets. The funds were approved by the Ontario Securities Commission (OSC) on Monday, according to the note. Meanwhile, issuers in the U.S., including Grayscale, Franklin Templeton, 21Shares, Bitwise, VanEck and Fidelity, are still waiting for the green light from the Securities and Exchange Commission (SEC) to launch a spot Solana fund. There are currently two ETFs tracking SOL futures trading on U.S. markets, the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), both of which have attracted a relatively small amount of assets, around $5 million for SOLZ and $10 million for SOLT. The spot crypto ETFs, however, have seen immense success among investors, attracting multiple billions of dollars over the course of a year, with the bitcoin (BTC) ETFs becoming the most successful ETF launch in history. Sign in to access your portfolio
Yahoo
28-03-2025
- Business
- Yahoo
Fidelity Looks to Add Spot Solana ETF to Crypto Offerings
Fidelity Investments is looking to launch an exchange-traded fund that tracks the price of SOL, the native cryptocurrency of blockchain platform Solana, according to a 19b-4 form filed by Cboe Exchange with the Securities and Exchange Commission. The industry giant has not yet filed an S-1 registration, which the commission would need to approve before the investment company can list the fund on a public exchange. 'A meaningful portion of our customers are interested in and own digital assets,' a Fidelity spokesperson told 'Fidelity remains committed to providing customers with a portfolio of solutions that offer choice, accompanied by education and support as they leverage products to meet their financial needs and objectives.' Solana is the sixth-largest crypto asset by market capitalization (currently around $71 billion), according to data from CoinMarketCap. Interest in a spot Solana ETF continues to grow. Late last year, the Cboe BZX filed applications with the SEC on behalf of Bitwise, VanEck, 21Shares and Canary Capital right around the time SEC Chair Gary Gensler announced his departure from the regulatory agency. In January, Nate Geraci, president of The ETF Store, wrote on social media platform X that one of his top 2025 crypto ETF predictions was that a spot SOL ETF would get approved. Earlier this month, Volatility Shares issued the first U.S.-listed Solana ETFs, the Solana ETF (SOLZ) and the 2x Solana ETF (SOLT). These funds aren't spot crypto ETFs; they hold Solana futures contracts. Last year, Fidelity launched spot bitcoin and ethereum ETFs: the Fidelity Wise Origin Bitcoin Fund (FBTC) and Fidelity Ethereum Fund (FETH). The fund-management company has been working since 2014 to develop a digital assets | © Copyright 2025 All rights reserved
Yahoo
22-03-2025
- Business
- Yahoo
Volatility Shares Set To Launch 2 Solana Futures ETFs as Industry Awaits Approval of Spot ETFs
Volatility Shares will launch two Solana futures ETFs on Thursday, making them the first of their kind in the United States. The Volatility Shares Solana ETF (SOLZ) will provide exposure to Solana futures contracts, while the Volatility Shares 2X Solana ETF (SOLT) will aim for twice the daily return of Solana's price. Both funds will be listed on Nasdaq and have already been registered with the Depository Trust & Clearing Corporation (DTCC). SOLZ will have an expense ratio of 0.95%, while SOLT's will be 1.85%. Unlike spot ETFs that hold the asset directly, these funds track Solana prices through futures contracts traded on Commodity Futures Trading Commission (CFTC)-regulated exchanges. Solana futures trading began on the Chicago Mercantile Exchange (CME) on Monday, recording $12.3 million in notional daily volume and closing with $7.8 million in open interest. This initial activity was lower than Bitcoin and Ethereum futures at their launch, but K33 Research noted that Solana's debut was in line with expectations when adjusted for market capitalization. The launch of these futures ETFs is seen as a step toward potential approval of spot Solana ETFs. Several asset managers, including Franklin Templeton, 21Shares, and VanEck, have already filed for spot Solana ETFs. Franklin Templeton, the largest firm to apply, made its filing earlier this month. Bloomberg ETF analyst Eric Balchunas previously said that the existence of Solana futures ETFs could be a positive sign for spot ETF approval. Volatility Shares filed for Solana futures ETFs in December, stating in its prospectus that the funds would only invest in contracts traded on CFTC-registered exchanges. CEO Justin Young highlighted that being the first to file allowed the firm to be the first to launch. Volatility Shares manages $3 billion in assets. Young also confirmed that the firm had filed for a '-1x Solana ETF,' which would have allowed investors to bet against Solana's price, but that product has been put on hold. While the SEC has yet to approve any spot Solana ETFs, the launch of futures-based ETFs suggests regulators recognize Solana as a commodity rather than a security. The approval process remains uncertain, as ongoing regulatory reviews, enforcement actions, and public comments could impact the decision. At the same time, Solana removed its "America is Back—Time to Accelerate" ad after criticism from the crypto community. The ad, posted Monday before noon in New York, received 1.4 million views by evening but was widely criticized on X for being "offensive" and "divisive." Many viewers took issue with its patriotic themes and political undertones, particularly regarding gender diversity. Solana's price rose 5% to $130 in Wednesday trading, according to CoinMarketCap. However, the cryptocurrency has fallen 27% over the past month, with analysts linking the decline to uncertainty over U.S. President Donald Trump's tariff policies. Sign in to access your portfolio
Yahoo
22-03-2025
- Business
- Yahoo
Solana Futures ETFs Launch, Expected To Boost Institutional Adoption Despite Limited Inflows
Volatility Shares is launching two Solana futures ETFs, the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), marking a key step in Solana's move into mainstream financial products. These ETFs are expected to help boost institutional adoption of the Solana (SOL) token, although there are concerns about their ability to attract significant inflows. Industry experts see the launch of Solana futures ETFs as a major milestone, with the potential to improve liquidity and demand for SOL. Ryan Lee, chief analyst at Bitget Research, believes that the ETFs could increase Solana's market position and potentially close the gap with Ethereum's market cap. He also highlighted that offering a regulated investment vehicle could attract institutional investors. However, others, like Bloomberg's senior ETF analyst Eric Balchunas, are cautious, pointing out that the spot Ether ETF has not brought in large inflows, and the same could happen with Solana futures ETFs. Despite this, the approval of a Solana spot ETF is viewed as a likely next step. Anmol Singh, co-founder of Bullet, a Solana-native exchange, sees the increased awareness generated by the futures ETFs as paving the way for a future spot Solana ETF. A report from JPMorgan suggests that a spot Solana ETF could bring in between $3 billion to $6 billion in net assets in the first six months, possibly outpacing the adoption of Ether ETFs. The spot ETF, though not yet approved, is seen by some analysts as the true indicator of Solana's growing influence in the crypto space. A Solana spot ETF could offer investors direct exposure to SOL without the complexities of futures markets, making it an attractive option once it's available. The market could see moderate inflows into the futures ETFs, but the real milestone will be the launch of the spot product. Solana's growing status is also bolstered by its inclusion in the U.S. strategic crypto reserve, announced by President Donald Trump. This includes Solana alongside other tokens like Cardano and XRP. The launch of the futures ETFs marks an important step in the adoption of Solana, but the path to a spot ETF could take years, as the SEC's review process for new products typically extends to 2026. Ultimately, while the initial inflows from the futures ETFs may be limited, their launch is seen as an important step toward the broader acceptance of Solana in the institutional investment world.
