Solana Futures ETFs Hit Wall Street — Will SOL Soar Or Crash?
Volatility Shares LLC is launching two ETFs tied to Solana futures, marking the first ETF access for traditional finance investors to the five largest cryptocurrencies. The CME Group introduced Solana futures recently, and Volatility Shares’ Solana ETF will track these futures. The 2X Solana ETF (ticker: SOLT) will provide double leveraged exposure. Initial trading volume for Solana futures is approximately $12.3 million, lower than Bitcoin and Ethereum's early volumes but proportionate to Solana's market cap. Solana is currently priced at $131.6, over 50% down from its all-time high, influenced by decreased interest in memecoins. However, it gained over 6% recently due to favorable reactions to the Federal Reserve's decisions on interest rates and bond runoff. The SOL price is nearing key technical levels, with a bullish outlook if it closes above $133, potentially leading to a rally towards $166.7 and the mid-January all-time high of $296 as a long-term target.
