Volatility Shares Targets Solana Futures ETF in Latest SEC Filing
2024-12-28
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The cryptocurrency market is seeing a wave of exchange-traded fund (ETF) applications, reflecting a push toward mainstream adoption.
Recent filings include Solana futures ETF and Bitcoin-linked convertible bond fund, showcasing a shift toward diversified investment options.
Solana Futures ETF
On December 27, Volatility Shares took a significant step by filing for a futures-based Solana ETF, aiming to capitalize on the growing interest in altcoins.
The fund intends to mirror Solana’s price movements by focusing on future contracts on exchanges regulated by the US Commodity Futures Trading Commission (CFTC). Its strategy may also include Solana-linked financial instruments, with the asset’s value derived from those investments. This approach could open the door to broader institutional interest in Solana.
Meanwhile, market analysts have noted the bold timing of this filing, as Solana futures are not yet actively traded. Some suggest that the approval of this ETF could set the stage for a spot Solana ETF in the future.
“This is wild. Solana futures ETF filing bf Solana futures even exist… probably a good sign Solana futures are on the way, which arguably bodes well for spot odds,” Bloomberg ETF analyst Eric Balchunas stated.
A Wave of Bitcoin ETF Applications
Meanwhile, Bitcoin-related ETFs are seeing a wave of new applications. Nate Geraci, president of ETF Store, highlighted that four filings emerged in the past 48 hours.
REX Shares has proposed a Bitcoin Corporate Treasury Convertible Bond ETF, targeting bonds issued by companies with Bitcoin holdings in their treasuries. Similarly, Strive Asset Management plans to introduce a fund that invests in bonds from firms like MicroStrategy, known for their substantial Bitcoin allocations.
Bitwise also joined the movement with its Bitcoin Standard Corporations ETF. This is designed to invest in companies holding Bitcoin as part of their financial reserves.
Meanwhile, ProShares is seeking approval for ETFs tied to major indices like the S&P 500 and Nasdaq-100, as well as gold, all denominated in Bitcoin. This unique approach combines traditional assets with cryptocurrency exposure through Bitcoin futures.
“Basically a long position in underlying stocks or gold & then a short usd/long btc position using btc futures. I’m calling these btc hedged ETFs,” Geraci said.
These filings underscore the growing confidence in cryptocurrency as a mainstream asset class. Industry experts believe that 2025 could mark a turning point, with institutional capital flowing into these innovative funds. Indeed, Spot Bitcoin ETFs have already demonstrated success this year, attracting over $35 billion in net inflows and managing assets exceeding $100 billion.