Solana Futures ETFs Gain DTCC Listing, Is a Spot SOL ETF Next?

Solana has taken a big step toward wider acceptance in traditional finance. The Depository Trust and Clearing Corporation (DTCC) has listed two Solana futures ETFs, marking an important milestone for the blockchain network. This move has raised hopes for the approval of a spot in Solana ETF.

DTCC Lists Solana Futures ETFs

The DTCC, a key organization in the financial system, provides clearing and settlement services for trades. It recently added two Solana futures ETFs—Volatility Shares Solana ETF (SOLZ) and Volatility Shares 2x Solana ETF (SOLT) to its list of funds.

However, this move is important because listing on the DTCC is seen as a necessary step before an ETF can start trading on exchanges.

Meanwhile, this comes at a time when the U.S. Securities and Exchange Commission (SEC) has been reviewing multiple spot Solana ETF applications from big asset management firms, including 21Shares, Bitwise, Canary, VanEck, and Franklin Templeton, which manages over $1.2 trillion in assets.

Growing Interest in Solana ETFs

The listing of Solana futures ETFs has raised hopes for a spot Solana ETF. Late last year, Volatility Shares filed for three Solana ETFs, offering investors exposure to futures contracts with different leverage options. 

However, only the 1x and 2x leveraged ETFs made it to the DTCC list, while the -1x leveraged ETF remains absent.

These funds are expected to invest in Solana futures contracts on exchanges regulated by the Commodity Futures Trading Commission (CFTC). At the time of filing, there were no Solana futures contracts on such exchanges, but Coinbase launched Solana futures contracts earlier this month on its CFTC-regulated derivatives exchange.

Analysts See a Positive Change

Meanwhile, Bloomberg analyst Eric Balchunas noted that listing Solana futures ETFs on the DTCC is a positive sign for the approval of a spot Solana ETF. 

However, he also pointed out that being listed on the DTCC does not mean the funds are ready for trading yet. For example, VanEck’s spot Ethereum ETF took about two months after its DTCC listing to start trading.

Meanwhile, U.S. regulators are becoming more open, with more issuers working to launch ETFs for other cryptocurrencies like XRP, Litecoin, and Dogecoin.