Volatility Shares is launching two Solana (SOL) futures exchange-traded funds (ETFs), the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), on March 20.
The filings represent the first Solana-based ETFs in the US and follow the Chicago Mercantile Exchange (CME) Group’s debut of SOL futures contracts.
SOL futures contracts could help boost demand for the cryptocurrency from institutional investors and encourage price discovery.
The launch of Bitcoin ETFs in 2024 is widely believed to have siloed institutional capital away from the rest of the crypto market, preventing capital rotation from BTC into altcoins and upending altseason.