The first Solana exchange-traded fund, or ETF, will launch in the US tomorrow, according to one firm’s effective registration statement. Florida-based Volatility Shares LLC is launching a pair of funds tracking Solana futures on Thursday, The Volatility Shares Solana ETF (ticker SOLZ) will track Solana futures. Meanwhile, the Volatility Shares 2X Solana ETF (SOLT) will offer twice the leveraged exposure.

Volatility Shares submitted their paperwork for their Solana SOL ETF back in December 2024. While other major firms like Grayscale and BlackRock still await approval to launch, Volatility will have the first Solana token ETF of its kind in the US. “Our launch comes at a time of renewed optimism for cryptocurrency innovation in the US,” said Justin Young, the chief executive officer of Volatility Shares. “We believe the Trump administration recognizes the strategic importance of maintaining American leadership in financial technology.”

Spot Solana SOL ETFs Next?

While Solana ETFs holding the coin directly aren’t currently available, experts view the Volatility Shares ETF as a sign that a spot fund for the SOL cryptocurrency is coming. Bitcoin and Ethereum (ETH) had similar paths before their crypto ETFs were approved in 2024. Furthermore, ETF expert at Bloomberg Eric Balchunas predicts Solana SOL will follow that path.

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“It’s the first altcoin after Ether to be approved. But history has shown that ETF investors crave holding the physical asset as much as possible,” Balchunas says. “It could have some issues when spot is approved.” Balchunas also predicts that there is a 75% chance the first spot Solana SOL ETF will be approved before the end of 2025.

Spot Bitcoin ETFs have amassed $92 billion since their debut in January 2024. This is far higher than Ethereum’s $6 billion, however, SOL could help both of its predecessor ETFs get back on the right path. Solana SOL is up 6% already in the last 24 hours following the news. At press time, SOL sits at $131.24 but could surge beyond $150 in the coming days if the first SOL ETF performs well.


  • Crypto ETF
  • SOL
  • Solana
  • Solana ETF