Solana (SOL) just made a major stride toward broader financial adoption as two Solana futures ETFs were listed on the Depository Trust and Clearing Corporation (DTCC). This move is seen as a crucial milestone that could pave the way for a potential spot Solana ETF in the near future.
Why DTCC Listing Matters
The DTCC serves as a critical infrastructure provider for financial markets, ensuring the smooth clearing and settlement of trades. Getting listed on the DTCC is often a prerequisite before an ETF can officially trade on major exchanges.
The two listed Solana futures ETFs are:
- Volatility Shares Solana ETF (SOLZ)
- Volatility Shares 2x Solana ETF (SOLT)
This development coincides with the U.S. Securities and Exchange Commission (SEC) reviewing multiple applications for a spot Solana ETF. Leading firms such as 21Shares, Bitwise, Canary, VanEck, and Franklin Templeton are all vying for approval, fueling speculation about Solana’s growing acceptance in traditional finance.
Only Two Out of Three ETFs Listed
Volatility Shares originally filed for three Solana ETFs, offering various leveraged exposure to Solana futures contracts. However, the -1x leveraged ETF was not included in the DTCC listing.
These ETFs are designed to invest in Solana futures contracts on Commodity Futures Trading Commission (CFTC)-regulated exchanges. Previously, no such contracts were available, but Coinbase recently launched Solana futures trading on its CFTC-approved derivatives platform, removing a key hurdle.
Could a Spot Solana ETF Be Next?
According to Bloomberg analyst Eric Balchunas, the DTCC listing is a positive step toward eventual spot ETF approval. However, he cautioned that this does not mean immediate trading. For context, VanEck’s spot Ethereum ETF took nearly two months post-DTCC listing before launching.
This is wild. Solana futures ETF filing bf Solana futures even exist! Oh and let’s do a 2x while we’re. Hard core.. and prob good sign Solana futures on way which arguable bodes well for spot odds. And this was supposed to be a quiet week! https://t.co/YiwauQfaji
— Eric Balchunas (@EricBalchunas) December 28, 2024
Also Read: Circle Expands USDC on Solana Amid Stablecoin Boom
With U.S. regulators gradually opening up to crypto ETFs, market watchers are closely monitoring further developments. The approval of a spot Solana ETF could mark a significant breakthrough for institutional adoption, further solidifying Solana’s place in the financial ecosystem.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
