As reported by Benzinga, Solana (SOL/USD) experienced a significant rally, gaining over 7% ahead of the launch of its first-ever futures exchange-traded fund (ETF) products. This surge made Solana the second-most successful large-cap cryptocurrency in the past 24 hours, with trading volume increasing by 54% to $3.65 billion. The rally is attributed to the anticipation of new ETFs debuting on Thursday, which will track Solana futures. Florida-based Volatility Shares LLC is introducing the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), offering leveraged exposure. These ETFs will be listed on the Nasdaq stock exchange. Unlike spot ETFs, futures ETFs track the price through regulated futures contracts rather than holding the cryptocurrency directly. At the time of writing, Solana was trading at $133.58, up 5.77% in the last 24 hours, although it remains down 29% year-to-date.
Solana Surges 7% as First-Ever SOL ETFs Set to Launch
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