DTCC lists first set of Solana futures ETFs, fueling hopes for spot SOL fund approval
Quick Take
- Volatility Shares’ proposed Solana futures ETFs appeared on DTCC’s list of exchange-traded funds.
- Earlier this month, the SEC acknowledged spot Solana ETF filings from multiple issuers.
Two proposed Solana futures exchange-traded funds have appeared on a list maintained by the Depository Trust and Clearing Corporation (DTCC), marking the first Solana-based products to be included in the DTCC's list of funds.
Volatility Shares Solana ETF and Volatility Shares 2x Solana ETF were seen on the DTCC list on Wednesday, with the former assigned the ticker symbol SOLZ and the latter SOLT.
DTCC, an SEC-registered securities clearing corporation, is a provider of post-trade clearance, settlement, custody and information services, according to the Nasdaq.
Late last year, Volatility Shares filed for three new Solana ETFs that would provide investors exposure to Solana futures contracts with 1x, 2x and -1x leverage options. Despite the initial applications, the -1x Solana futures ETF did not appear on DTCC's list.
Volatility's prospectus clarified that the funds would invest in contracts that trade within exchanges registered with the Commodity Futures Trading Commission (CFTC). While there were no Solana futures contracts available on CFTC-regulated exchanges at the time of the filing, Coinbase launched Solana futures contracts on its CFTC-regulated derivatives exchange earlier this month.
Bloomberg Senior ETF Analyst Eric Balchunas said in December that Volatility's applications "bode well" for the odds of a spot Solana ETF approval. Earlier this month, the SEC acknowledged spot Solana ETF filings from multiple issuers, including 21Shares, Bitwise, Canary and VanEck, indicating progress toward potential approvals.
However, Balchunas also said that a listing on the DTCC doesn't mean the funds are ready for trading, but shows that issuers are making preparations for trading. In the case of VanEck’s spot Ethereum ETF, the fund started trading on Cboe roughly two months after it was listed on the DTCC in May 2024.
On the back of positive changes in the regulatory stance on crypto, U.S. issuers are also working to launch a number of exchange-traded products based on other altcoins, including XRP, Litecoin and Dogecoin.
According to The Block's data, Solana is trading at $141.2, down 0.1% in the past 24 hours.
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