DTCC Lists Solana Futures ETFs on Their Platform
Crypto Corner: Latest Updates on ETFs
Solana ETFs Joins DTCC Lineup
SOL-ETF futures from Volatility Shares have made their way to the DTCC (Depository Trust & Clearing Corporation) asset list, marking Solana's debut on this platform. This move is similar to precedents set before the launch of other products.
The route taken by VanEck's spot Ether-ETF offers a useful comparison. After being added to the DTCC list in May 2024, the fund commenced trading on the CBOE around two months later.
Although Volatility Shares put forward an application for three SOL-ETF products last year, including a -1x futures ETF, it wasn't listed on the DTCC. The funds that did make the cut, SOLZ and SOLT (for Volatility Shares Solana ETF and Volatility Shares 2x Solana-ETF respectively), are set to invest in contracts traded on CFTC-regulated exchanges, with Coinbase serving as an eligible trading venue.
Analyst Eric Balchunas of Bloomberg pondered over the possibility of a spot SOL-ETF being approved, agreeing that chances seemed favorable following Volatility Shares' initiative.
Recent developments have also seen Canary Capital's spot Litecoin-ETF added to the DTCC website, on February 21. Grayscale Investments' spot Solana-ETF could potentially follow suite, given the SEC's acceptance of a 19b-4 rule change filing from NYSE Arca on February 7. The regulatory body is currently reviewing proposals from 21Shares, Bitwise, Canary, and VanEck.
Aptos ETF may be in the Works
Bitwise initiated the establishment of Bitwise Aptos ETF in Delaware, with an S-1 registration filing forthcoming for the SEC. Back in November, the company introduced the Aptos Staking ETP on six Swiss exchanges, simultaneously released by 21Shares. In a similar twist, Bitwise registered Bitwise Doge ETF in Delaware in January.
However, updates about the current status of the Aptos ETF proposal at the SEC remain unavailable. Typically, the review process for such applications can be time-consuming, often subject to delays as part of the formal proceedings. Given this context, it's plausible that the proposal is still under SEC's scrutiny but has yet to provide an update on its status.
Diverse ETF Proposals on the Horizon
Tuttle Capital Management has presented a proposal to the SEC for ten leveraged 2x crypto-ETFs, which include products based on TRUMP, MELANIA, Bonk, BNP, and Chainlink. The SEC is also considering in-kind redemptions in BTC-ETF and ETH-ETF, and staking in ETH-ETF.
Lastly, Hester Peirce, head of the SEC's dedicated "crypto group," asserts that the regulator's priorities include identifying which assets are not considered securities and establishing a clear registration process for new tokens.
- The recent addition of Solana ETFs (SOLZ and SOLT) from Volatility Shares to the DTCC list indicates a growing interest in technology-driven finance, such as Ethereum and investing in various cryptocurrencies.
- As the SEC continues to review proposals for new ETFs, including those from 21Shares, Bitwise, Canary, and VanEck, it signals a potential shift in the financing landscape, potentially paving the way for Ethereum and other tech-based financial products.
