The Depository Trust & Clearing Corporation (DTCC) has officially added Volatility Shares’ Solana futures ETFs (exchange-traded funds) to its listings.
This means the ETFs are now cleared and settled through DTCC’s central system, providing a more efficient and secure trading process.
Solana Futures ETFs Cleared by DTCC
The newly listed products include the Volatility Shares 2x Solana ETF (SOLT) and the Volatility Shares Solana ETF (SOLZ).
Volatility Shares first filed with the SEC (Securities and Exchange Commission) in December 2024 to get approval for three Solana-focused ETFs. One of them was the -1x Solana ETF, designed to offer inverse exposure to Solana futures contracts.
At the time of the filing, however, there were no Solana futures contracts available on any exchanges regulated by the Commodity Futures Trading Commission (CFTC), raising concerns about the possibility of launching these ETFs without an underlying futures market.
The listing of Solana futures ETFs on DTCC underscores the growing interest from institutional investors in cryptocurrency products. However, while the DTCC listing is an important step in making these ETFs available to investors, it doesn’t mean they have been formally approved by the US SEC.
Coinbase’s Role in the Solana Futures Market
Earlier this month, the situation changed when Coinbase Derivatives LLC launched CFTC-regulated Solana futures contracts. This move addressed concerns about the lack of a regulated Solana futures market and strengthened the case for future regulatory approval of Solana ETFs.
Coinbase’s announcement came after rumors that Solana and XRP futures might be launched on the Chicago Mercantile Exchange (CME), sparked by a leaked staging website suggesting a potential start date of February 10.
ETF analyst James Seyffart noted, “Assuming ‘beta.cmegroup’ is a test version of the actual CMEGroup website, it looks like CME is planning to launch SOL and XRP futures on February 10. However, this isn’t available on the main website yet.”
The domain was removed soon after it was discovered, and CME Group later confirmed that the leak was a mistake and that no final decision had been made.
Despite the uncertainties, the introduction of regulated Solana futures contracts is a positive step for institutional investors, offering a safe and structured way to trade Solana and helping to connect traditional finance (TradFi) with the crypto market.
At the same time, the launch of Solana futures ETFs and the availability of regulated futures contracts may pave the way for the eventual approval of a spot Solana ETF. Several asset management firms, including VanEck, 21Shares, Bitwise, and Canary Capital, have already filed applications for spot Solana ETFs.
It will be interesting to see how the SEC handles these applications as the competition to launch more altcoin ETFs heats up.
Despite these positive developments, the price of SOL has dropped nearly 5%, now sitting at $137.68 as of writing. Market volatility continues to be a key factor in crypto, with regulatory uncertainty and broader economic trends affecting price fluctuations.
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