Solana News: First Solana Futures ETFs Set to Launch This Week

In a significant development for the cryptocurrency market, Solana (SOL) investors are set to benefit from the launch of two new exchange-traded funds (ETFs) tracking Solana futures. Here’s a closer look at what this means for the digital asset and its investors.

First Solana Futures ETF To Hit Markets This Week

Two exchange-traded funds (ETFs) tracking futures in Solana (SOL) are coming on the market on Thursday. According to a filing with the Securities and Exchange Commission (SEC), Volatility Shares LLC is launching two ETFs, the Volatility Shares Solana ETF (SOLZ) which will track Solana futures and the Volatility Shares 2X Solana ETF (SOLT), which offers Leveraged exposure. SOLZ will have a management fee of 0.95% while traders will be charged 1.85% for SOLT. The products will be the first-ever funds tracking futures in Solana, which at a market cap of $66.5 billion is the sixth largest cryptocurrency on the market. The token is up 6% over the past 24 hours, in line with the broader crypto market. The launch of these funds could be significant in the approval of a spot Solana ETF, which would hold the token directly.

Solana Co-Founder Slams Deleted Ad

Solana founder Anatoly Yakovenko criticized a now-deleted ad featuring American patriotism mixed with right-wing messaging. The ad received backlash for its apparent commentary on gender diversity. Yakovenko expressed regret for not addressing the issue more forcefully initially, stating that he was ashamed for downplaying it.

First SOL Futures ETFs Slated for Launch

The first-ever Solana ETFs in the US are set to launch tomorrow. Florida-based Volatility Shares LLC will bring two Solana futures ETFs to market: the Volatility Shares Solana ETF (SOLZ) and the 2X Leveraged Volatility Shares Solana ETF (SOLT). Institutional interest in Solana has never been higher, and the launch of these ETFs is expected to boost exposure and trading flexibility. However, the move comes amidst a volatile market backdrop. Solana continues to lead in transaction volume and user engagement, but structural forces suggest greater turbulence ahead.

Solana Co-Founder Apologizes for Controversial Ad

Solana Labs co-founder Anatoly Yakovenko apologized for a recent Solana Foundation advertisement that was deemed offensive to marginalized groups. Yakovenko expressed shame and gratitude to the Solana (SOL) community for calling it out. He committed to ensuring the foundation focuses on decentralization and open-source software development.