First Solana futures ETFs to launch trading

Two exchange traded funds (ETFs) that track Solana (CRYPTO: $SOL ) cryptocurrency futures begin trading today (March 20).

Volatility Shares LLC is launching two ETFs focused on #Solana futures: the âVolatility Shares Solana ETFâ (SOLZ), which will track Solana futures, and the âVolatility Shares 2X Solana ETFâ (SOLT), which provides investors with leverage. The management fee for the SOLZ #ETF is 0.95% and the management fee for the SOLT ETF is 1.85%, according to a filing with the U. S. Securities and Exchange Commission (SEC). These are the first funds to track the futures price of Solana, which is currently the sixth largest #cryptocurrency with a market capitalization of $65 billion. Solana’s price has risen 6% in the last 24 hours, largely due to the anticipation of the release of the first ETFs. The launch of these first ETFs is seen as a precursor to the approval of spot Solana ETFs that will hold a digital token. Following the successful launch of the %Bitcoin (CRYPTO: $BTC ) and %Ethereum (CRYPTO: $ETH ) spot ETFs last year, asset managers are looking to bring other cryptocurrency funds to market. issuers such as Grayscale, Franklin Templeton and VanEck have filed applications to launch a spot Solana ETF, which have not yet been approved by the SEC. However, Bloomberg Intelligence estimates that there is a 75% chance that the spot Solana ETF will be approved by the end of the year. Read us at: Compass Investments #CryptoMarketTrends #GlobalCrypto