Following the approval of spot Bitcoin and Ethereum ETFs, ETF applications have also come for many altcoins.
While the approval of XRP, Solana (SOL) and Litecoin (LTC) ETFs is almost certain, a big step is being taken for Solana today.
Accordingly, the first Solana futures ETF will be launched, a significant development that could pave the way for the first Solana spot ETF.
As Volatility Shares prepares to launch two SOL futures ETFs, Bitget Research principal analyst Ryan Lee weighed in on this important development.
The launch of the first Solana futures ETF could drive new institutional adoption for SOL, according to Lee.
Lee said the Solana futures ETF could attract billions of dollars of capital by offering a regulated investment vehicle and would increase Solana’s competitiveness against Ethereum (ETH) by attracting more institutional investment.
“The launch of the first Solana futures ETFs in the U.S. could significantly strengthen Solana’s market position by increasing demand and liquidity for SOL.
“It could potentially narrow the gap to Ethereum's market cap.”
Lee said that despite uncertainties surrounding the performance of the Solana futures ETFs and expectations that they will see limited inflows, the launch of these ETFs represents an important step toward approval of the spot Solana ETF.
*This is not investment advice.
