Volatility Shares Launches Solana Futures ETF: Spot Approvals Coming?

Volatility Shares LLC, a Florida-based investment firm has made history, launching the world’s first-ever Solana futures products.

With Solana futures finally hitting traditional markets, spot ETF approvals are starting to look more likely by the day.

What do we know about Volatility Shares’ newest funds, and why do they boost approval odds for spot Solana ETFs?

Volatility Shares Debuts 2 Futures Products

On March 20, emerging investment firm Volatility Shares LLC is expected to launch two Solana futures products. The first of their kind, these products will track the price of Solana futures, giving TradFi players exposure to one of the crypto industry’s most in-demand assets.

Volatility Shares first submitted filings for its two funds, $SOLZ and $SOLT, in December 2024. While the Volatility Shares Solana ETF ($SOLZ) tracks Solana futures, the aptly named Volatility Shares 2X Solana ETF ($SOLT) offers 2X-leveraged exposure. According to the firm’s original prospectus, $SOLT and $SOLZ expense ratios are set at 0.95% and 1.85%, respectively.

With confidence slowly returning to markets after weeks of turbulence, traders and investors are demonstrating renewed belief in Solana. 

$SOL surged following the announcement of Volatility Shares futures products, up 7.8% on a daily time frame, outperforming other majors like $ETH and $BNB, which rose 5.3% and 1.1%, respectively.

Futures Products Clear Path for Spot SOL Approval

On top of increasing TradFi exposure and accessibility to Solana price movement, Volatility Shares' newest futures products represent a key development towards $SOL spot ETF approvals.

Previously, Solana spot ETFs were considered unlikely to be approved due to the absence of existing futures products. When VanEck first filed for a Solana ETF in June 2024, experts like Bloomberg Senior Analyst Eric Balchunas argued that applications would likely be denied without a futures ETF already in place.

With Solana futures ETFs live on Wall Street, regulators will now observe and analyze how these funds operate in traditional markets. This monitoring could lend further credibility to $SOL as an asset, helping the SEC make informed decisions on spot SOL ETF filings.

Earlier this week, the SEC formally acknowledged Franklin Templeton’s $SOL ETF filing. Following the acknowledgment, the SEC has 45 days to review the application and solicit feedback from experts and stakeholders before either approving or denying the filing. Alternatively, the SEC can extend the review period for an additional 45 days.

Meanwhile, SOL ETF approval odds are hovering near all-time highs. Polymarket data suggests that a spot Solana ETF has 88% chance of being approved before the end of the 2025.

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