Latest news with #VolatilitySharesSolanaETF
Yahoo
16-04-2025
- Business
- Yahoo
Canada To Launch 4 Spot Solana ETFs on April 16, Beating U.S. to Market
Four asset managers—Purpose, Evolve, CI, and 3iQ—are set to launch spot Solana exchange-traded funds (ETFs) in Canada on April 16. These funds will trade on the Toronto Stock Exchange, following approval from the Ontario Securities Commission (OSC). The ETFs will feature staking of Solana (SOL), which could result in higher yields compared to Ether staking. This approval marks the first instance of spot Solana ETFs and comes as part of Canada's regulatory update, which allows for crypto-related investment products to be publicly traded. The OSC's green light for these ETFs follows regulatory changes that were outlined in January, allowing publicly traded funds to hold cryptocurrencies. While these ETFs are being introduced in Canada, the U.S. has yet to approve similar products for Solana. In the U.S., multiple firms, including Grayscale, Bitwise, and VanEck, have submitted applications to launch spot Solana ETFs, but they are still awaiting approval from the Securities and Exchange Commission (SEC). Unlike in Canada, U.S. crypto ETFs are currently not allowed to stake digital assets like Solana for additional yield. The OSC's approval is seen as a significant move in the altcoin ETF market. Eric Balchunas, a senior ETF analyst for Bloomberg, pointed out that these upcoming funds would offer a first look at how altcoins like Solana could perform in the ETF space. These ETFs will enable Canadian investors to gain exposure to Solana without directly holding the tokens themselves. The funds are expected to help further institutionalize the crypto market in Canada. This approval puts Canada ahead of the U.S. in offering a spot Solana ETF. U.S.-based firms such as Grayscale and Fidelity are still awaiting SEC approval for similar products. Currently, the only Solana ETFs available in the U.S. track Solana futures, with Volatility Shares launching two such funds in March. These funds, however, have seen limited success, with the Volatility Shares Solana ETF (SOLZ) and the 2X Solana ETF (SOLT) attracting only a modest amount of assets. The launch of the Solana ETFs in Canada comes amid growing interest in crypto ETFs in general. Bitcoin and Ether ETFs have attracted billions in assets, with Bitcoin ETFs setting new records. Despite this, analysts, including Katalin Tischhauser from crypto bank Sygnum, have expressed caution, noting that while there is excitement surrounding altcoin ETFs, the actual investor demand remains uncertain. With these new ETFs, Canadian investors will soon have more options to invest in Solana, which has gained considerable attention due to its position as one of the top altcoins in the market. However, how these Solana ETFs perform in comparison to Bitcoin or Ether ETFs will be closely watched. Sign in to access your portfolio
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.
Yahoo
21-03-2025
- Business
- Yahoo
First Solana Futures ETF to Hit Markets This Week
Two exchange-traded funds (ETFs) tracking futures in Solana (SOL) are coming on the market on Thursday. According to a filing with the Securities and Exchange Commission (SEC), Volatility Shares LLC is launching two ETFs, the Volatility Shares Solana ETF (SOLZ) which will track Solana futures and the Volatility Shares 2X Solana ETF (SOLT), which offers leveraged exposure. SOLZ will have a management fee of 0.95% while traders will be charged 1.85% for SOLT, according to the filing. The products will be the first-ever funds tracking futures in Solana, which at a market cap of $66.5 billion is the sixth largest cryptocurrency on the market. The token is up 6% over the past 24 hours, in line with the broader crypto market. The launch of these funds could be significant in the approval of a spot Solana ETF, which would hold the token directly. The SEC has stated in the past that in order to approve a spot product, they would like to see an established futures market for the asset. After the launch of the spot Bitcoin (BTC) and Ether (ETH) ETFs last year, issuers have been looking to bring further crypto-related products to the market. Several issuers, including Grayscale, Franklin Templeton and VanEck, have filed paperwork to launch a spot Solana ETF, which have yet to be reviewed by the SEC. Bloomberg Intelligence ETF analysts believe there to be a 75% chance for those funds to be approved by the end of this year. However, a decision likely won't be made before Paul Atkins, who has been nominated by President Donald Trump to serve as chair of the SEC, is confirmed by the Senate. There is currently no hearing scheduled for Atkins. Sign in to access your portfolio
