Today, March 20, 2025, marks the launch of the first Solana Futures ETFs in the United States. Volatility Shares LLC is introducing two exchange-traded funds (ETFs) tracking Solana (SOL) futures: the Volatility Shares Solana ETF (ticker: SOLZ), which follows Solana futures, and the Volatility Shares 2X Solana ETF (ticker: SOLT), which offers leveraged 2x exposure. This debut follows the Chicago Mercantile Exchange (CME) Group’s introduction of Solana futures trading on March 17, 2025, and is seen as a significant step toward mainstream adoption of Solana in traditional finance.
Solana futures are financial contracts that allow investors to speculate on or hedge against the future price of Solana (SOL), a popular cryptocurrency known for its high-speed blockchain. These are derivative products, meaning their value is derived from the underlying asset—in this case, SOL—without requiring ownership of the actual cryptocurrency. A futures contract is an agreement to buy or sell an asset (like SOL) at a predetermined price on a specific date in the future. Solana futures, traders commit to either purchasing or selling SOL at that set price when the contract expires.
Futures often allow traders to use leverage, meaning they can control a large position with a relatively small amount of capital (e.g., 2x or more). For example, the Volatility Shares 2X Solana ETF (SOLT) aims to deliver twice the daily price movement of SOL futures. Futures can be cash-settled (where no actual SOL changes hands, just the difference in price) or physically settled (where SOL is delivered). Most crypto futures ETFs, like those launched today, are cash-settled based on a reference index of SOL’s price.
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Contracts have a set expiration date (e.g., monthly or quarterly). At expiration, the contract settles based on SOL’s price. However, traders can roll over contracts to a new expiration date to maintain their position. With the CME Group launching SOL futures on March 17, 2025, these contracts trade on a regulated exchange, offering transparency and oversight, unlike some decentralized crypto platforms. If you expect SOL’s price to rise, you “go long” by buying a futures contract.
If SOL’s price increases by expiration, you profit from the difference between the contract price and the higher market price. If you predict a price drop, you “go short” by selling a futures contract. If SOL’s price falls, you profit by buying it back at a lower price. Investors holding SOL can use futures to protect against price drops. For example, if you own SOL and fear a decline, you short a futures contract to offset potential losses.
The ETFs launched today—Volatility Shares Solana ETF (SOLZ) and 2X Solana ETF (SOLT)—track the performance of these futures contracts rather than SOL’s spot price. SOLZ aims to mirror the daily performance of SOL futures, while SOLT seeks 2x the daily return, amplifying both gains and losses. These ETFs don’t hold SOL directly; instead, they invest in futures contracts listed on exchanges like the CME, making them accessible via traditional brokerage accounts.
They allow traditional investors to gain exposure to SOL without navigating crypto wallets or exchanges. Trading on the CME and being offered as ETFs brings Solana into a regulated financial framework, boosting credibility. Futures cater to both speculators betting on price swings and institutions managing crypto exposure. Solana futures are a bridge between the crypto world and traditional finance, offering a way to bet on or protect against SOL’s price movements in a structured, regulated environment. Today’s ETF launch is a milestone in that integration.