Solana enthusiasts have been under distress lately with traders opting out amidst the prevailing market uncertainty. But a recent development involving the listing of the first Solana futures exchange traded funds (ETFs) could boost the ecosystem.
According to a post by SolanaFloor, “Volatility Shares’ Solana futures ETFs, SOLZ and SOLT, have appeared on DTCC’s list of exchange-traded funds.” The listing marks these ETFs eligible for settlement and clearing through the Depository Trust & Clearing Corporation (DTCC) central infrastructure. This will allow the trading process of these ETFs in an efficient and secure manner.
DTCC’s Listing of The Solana Futures ETFs by Volatility Shares; Details
According to data on DTCC’s official website, the new Solana futures ETFs listed include the Volatility Shares 2x Solana ETF (SOLT) and the Volatility Shares Solana ETF (SOLZ). These ETFs will provide 1x and 2x leveraged exposure to Solana futures contracts hence providing more opportunities for institutional investors.
The Volatility Shares Solana-focused ETFs application was first submitted to the Securities and Exchange Commission (SEC) in December 2024. The request sought approval of establishing three ETFs focused on Solana. However, the notable of the three was the -1x Solana ETF which was aimed at providing inverse exposure to Solana futures contracts.
But the launch of such an ETF met with various concerns as questions about launching a digital product without an underlying futures market emerged. This was caused by the fact that as of the time of the original filing by Volatility Shares, there were no Solana futures contracts existing for trading on Commodity Futures Trading Commission (CFTC) regulated exchanges.
The scenario changed when Coinbase Derivatives LLC launched Solana futures contracts regulated by CFTC earlier this month. By implementing regulated Solana futures contracts Coinbase addressed the market doubts which advanced the possibility for Solana ETFs to receive regulatory approvals.
With the new listings by DTCC, this means that SOLZ and SOLT have become the first of a kind in the crypto sector. The listing of the Solana Futures ETFs shows that there is a surge in institutional demand for crypto investment products.
However, DTCC’s listing of the two Solana Futures ETFs is only a mere step in making the investment vehicles available to investors. It does not equate to a formal approval of these products by the US Securities and Exchange Commission (SEC).
Solana’s (SOL) Current Price Performance
The price of Solana dipped to the $130 price following yesterday’s massive market sell-off as panic kicked in. As of now, Solana is trading at $139.78 with the current price mark depicting a 0.2% dip on the day. SOL has been trading between a low of $130.96 and a high of $141.95.
The key price levels to watch in the short-term include support at $136.84 and the resistance at $142.83. In case bulls fail to take control and the price of SOL below the current support a test of the next support at around $130 could occur. But if bulls hold strong, the price of SOL could breach resistance and surged towards $150.
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