Solana Futures ETFs Listed: A Step Towards Spot ETFs and XRP Futures

Coin WorldSaturday, Mar 1, 2025 3:08 am ET

1min read

Two Solana futures ETFs from Volatility Shares have been listed on the Depository Trust & Clearing Corporation (DTCC), offering 1x and 2x leveraged exposure to Solana futures contracts. This development provides investors with new avenues to engage with Solana's market performance and could signal progress towards the approval of both Solana spot ETFs and XRP futures ETFs.

Last week, asset management firm Franklin Templeton filed for a spot Solana ETF, seeking to track the cryptocurrency's spot price. The proposed ETF is set to be listed on the Cboe BZX Exchange, with coinbase acting as the custodian for Solana holdings. Meanwhile, the US Securities and Exchange Commission (SEC) has begun reviewing applications for XRP ETFs, indicating potential advancements in this area. Some analysts estimate a 65% approval probability for these ETFs.

Brazil's securities regulator approved the Hashdex Nasdaq XRP Fund, marking the world's first spot XRP ETF. This approval is expected to increase institutional use of XRP and potentially reshape international regulatory views on crypto investments.

The listing of two Solana futures ETFs sets a precedent for the eventual approval of a Solana spot ETF. Futures ETFs provide a regulated financial product for investors who may not want to hold the underlying asset directly, positioning Solana alongside Bitcoin and Ethereum, which already have both futures and spot ETFs in the US. Both Bitcoin and Ethereum had futures ETFs approved before their spot ETFs, and this pattern could apply to Solana as well.

However, Solana has a notably smaller market cap at $72.45 billion compared to Ethereum's $267.69 billion, which could impact the speed of spot ETF approval. Solana is currently following Ethereum's ETF approval roadmap but still faces regulatory hurdles before reaching the finish line. XRP futures would be a welcome addition to the crypto market, offering investors more options to engage with this popular cryptocurrency.

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