First Set Of Solana Futures ETFs Listed On DTCC; Are Spot SOL ETFs Next?

The Depository Trust & Clearing Corporation (DTCC), the biggest settlement and clearinghouse in the U.S., has listed two proposed Solana futures exchange-traded funds (ETFs). This marks the first SOL-based investment products to be added to DTCC’s list of funds.

The Volatility Shares 2x Solana ETF and the Volatility Shares Solana ETF appeared on DTCC’s list on Wednesday under the ticker SOLT and SOLZ, respectively.

Last December, Volatility Shares filed for three new ETFs that would give investors exposure to Solana futures contracts with 1x, 2x, and -1x leverage options. However, the -1x Solana ETF, which would offer inverse exposure, was not listed on DTCC.

Volatility’s prospectus revealed that the funds would invest in contracts that trade within exchanges registered with the Commodity Futures Trading Commission (CFTC). Although there were no Solana futures contracts available on CFTC-regulated exchanges at the time, Coinbase’s derivatives arm rolled out futures contracts for Solana earlier this month, which are regulated by the U.S. Commodity Futures Trading Commission.

More importantly, Bloomberg ETF analyst Eric Balchunas noted that Volatility’s futures-based filings “bode well” for the chances of a spot Solana ETF getting the greenlight. However, he clarified that the listing doesn’t mean the funds have secured SEC approval and are ready for trading. Nevertheless, it indicates that issuers are preparing for trading.

SOL ETF Approvals In The Bag?

The U.S. Securities and Exchange Commission recently recognized spot Solana ETF applications from several would-be issuers, including 21Shares, Bitwise, Canary, and VanEck, signaling significant progress toward potential approvals.

If approved, the Solana ETFs would further widen access to digital asset-focused products. Since their respective approvals last year, spot Bitcoin and Ethereum ETFs have been unprecedentedly successful. Those funds have allowed traditional financial institutions to invest billions of dollars in the industry’s top two cryptocurrencies and propelled crypto markets higher.

Balchunas has penciled in a 70% chance that Solana ETFs are approved in 2025.

In recent weeks, companies have submitted a barrage of filings for spot crypto ETFs based on other altcoins, including Ripple’s XRP, Dogecoin, and Litecoin, as a result of the more crypto-friendly policies of the new Donald Trump administration. These applications could increase investors’ options on both a retail and institutional level, beyond Bitcoin and Ethereum in the US.