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Volatility Shares LLC has decided to introduce two new ETF products tracking Solana 
$166 (SOL) futures. One of the announced products will reflect general market conditions, while the other will provide leverage opportunities. Both investors and the financial sector are closely monitoring these new developments.
Solana ETF Products
The newly launched ETFs include the Volatility Shares Solana ETF (SOLZ), which tracks Solana futures, and the Volatility Shares 2X Solana ETF (SOLT), offering leveraged investment opportunities. According to the announcement, a management fee of 0.95% will apply to SOLZ and 1.85% to SOLT. These products are notable for being the first funds based on Solana futures.
Furthermore, the launch of CME SOL futures earlier this week signals a new era for Solana. Considering its popularity in the cryptocurrency markets, it is expected to attract significant institutional interest as a viable risk asset. The growth potential and the fact that it remains substantially below its recent all-time high can generate bullish sentiments.
Outlook for Solana
With a market capitalization of approximately $66.5 billion, Solana ranks as the sixth-largest cryptocurrency. It has shown a 6% increase in the last 24 hours, moving in tandem with the overall dynamics of the crypto market. These new ETFs are anticipated to contribute positively to the approval process for Solana’s direct indexed spot ETF in the future.
The SEC has previously indicated the importance of having a robust futures market for the approval of spot products.
SEC officials: “A futures market must be established to approve a spot product.”
After the launch of spot products last year, organizations like Grayscale, Franklin Templeton, and VanEck have also submitted applications for Solana spot ETFs. In this context, expectations regarding the market are reportedly high.
Bloomberg Intelligence ETF analysts: “Current data suggests there is a 75% approval likelihood for Solana spot ETF applications.”
The arrival of these new ETFs coincides with a period where SEC approval processes will be critical. It is expected that a final decision will be made upon the completion of the approval process for presidential candidate Paul Atkins, with a deadline set for the end of the year. There’s a belief that approval could come by June for Atkins.
These launched products not only allow Solana to enter the futures market but could also pave the way for the necessary groundwork for approving spot products. As investors evaluate factors like management fees and leverage opportunities, they will need to closely follow the next steps from regulatory bodies.
