Volatility Shares has made a significant move by filing for a Solana Futures ETF with the SEC on December 27. This comes on the heels of their pioneering launch of an Ether Futures ETF, marking them as a notable player in the ETF space. As the holiday spirit lingers, the crypto prices continue to take a dive, revealing a struggle against a bearish market. Adding to the drama, Solana’s co-founder, Stephen Akridge, is entwined in a lawsuit with his ex-wife, who claims he misappropriated millions from her SOL staking. Despite the legal distractions, the excitement around a potential Solana Futures ETF is palpable.
Volatility Shares aims to diversify its digital asset strategy, prompting this recent filing. This official submission to the SEC was made just after Christmas, shaking up what was expected to be a relatively quiet time in the market. The attention surrounding this filing is substantial, with industry experts weighing in. Notably, Nate Garcia was quick to highlight Volatility Shares’ ambitions on social media, noting that the Solana Futures ETF will provide 1x, 2x, and -1x exposure.
Volatility Shares files for futures-based Solana ETFs….
1x, 2x, & -1x exposure.
Something to watch as Volatility Shares pushed the SEC on ether futures ETFs.
pic.twitter.com/lRs0XXMj5g
— Nate Geraci (@NateGeraci) December 27, 2024
Another notable analyst, Eric Balchunas, commented on the implications of this move, indicating that Volatility Shares is proactively shaping the futures ETF market. Their past endeavors, particularly with the Ether Futures ETF, have highlighted their commitment to leading the charge in this space, despite facing regulatory challenges.
Volatility Shares has consistently participated in the futures ETF sector, building a robust track record. Their filing for an Ether Futures ETF in 2023 garnered significant attention, fueling interest among investors. However, like many firms, they encountered regulatory hurdles, as Balchunas pointed out. Previous filings by companies like VanEck and 21Shares for a spot Solana ETF also met resistance from the SEC, which indicated a reluctance to approve any ETP products under the current leadership. With upcoming changes to the administration, the future could look different, potentially opening doors for more innovative financial products.
In other crypto news, the Solana-based SPORE token has recently attracted significant investments from whales, igniting interest as its price begins to rise.
The landscape for digital assets continues to evolve, and it’s intriguing to see how firms like Volatility Shares influence the direction of cryptocurrency investments. With the SEC’s decisions looming, the community remains hopeful for a positive shift that could pave the way for more ETFs in the near future.
