Solana Futures ETFs Listed on DTCC, Spot ETF Hopes Rise

• Volatility Shares’ two Solana futures ETFs have been listed on the DTCC
• Last week, asset management firm Franklin Templeton filed for a spot Solana ETF
• SEC has begun reviewing applications for XRP ETFs

Two Solana futures ETFs from Volatility Shares have been listed on the Depository Trust Clearing Corporation (DTCC). These ETFs offer 1x and 2x leveraged exposure to Solana futures contracts, giving investors new ways to engage with Solana’s market performance.

This is just the latest development in the cryptocurrency market that could indicate considerable progress toward the approval of both Solana spot ETFs and XRP futures ETFs.

Franklin Templeton Files for Spot Solana ETF

Last week, asset management firm Franklin Templeton filed for a spot Solana ETF, seeking to track the cryptocurrency’s spot price. The proposed ETF is set to be listed on the Cboe BZX Exchange, with Coinbase acting as the custodian for Solana holdings.

As for XRP, the US Securities and Exchange Commission (SEC) has begun reviewing applications for XRP ETFs, signaling potential advancements in this area. Some analysts, like James Seyffart and Eric Balchunas, estimate a 65% approval probability for these ETFs, which is a very positive outlook.

XRP ETFs: Brazil Approval and SEC Review

Then, Brazil’s securities regulator approved the Hashdex Nasdaq XRP Fund, marking the world’s first spot XRP ETF. 

Related: Garlinghouse: XRP, Solana, Cardano ETFs ‘Inevitable’ Following Ether Approval

This is expected by some to increase the institutional use of XRP and potentially reshape international regulatory views on crypto investments.

Why Does This Matter:

The listing of two Solana futures ETFs sets a precedent for the eventual approval of a Solana spot ETF.

Futures ETFs provide a regulated financial product for investors who may not want to hold the underlying asset directly, and this would position Solana alongside Bitcoin and Ethereum, which already have both futures and spot ETFs in the US.

In addition, both Bitcoin and Ethereum had futures ETFs approved before their spot ETFs, and this pattern could apply to Solana as well.

Related: XRP, Solana ETFs: US Elections Fuel Speculative ‘Trump Call’

Although, it’s worth noting that Solana has a notably smaller market cap at $72.45 billion compared to Ethereum’s $267.69 billion. This can also play a role in how fast that spot ETF approval happens.

So far, Solana is following Ethereum’s ETF approval roadmap, but it still has some regulatory hurdles before reaching the finish line. 

As for XRP, its futures would be a welcome addition to the crypto market.