The cryptocurrency market is seeing a wave of exchange-traded fund (ETF) applications, reflecting a push toward mainstream adoption.
Recent filings include the Solana futures ETF and a Bitcoin-linked convertible bond fund, demonstrating a shift toward diversified investment options.
Solana Futures ETF
On December 27, Volatility Shares made a striking move by submission filing for a Solana-based futures ETF, aimed at capitalizing on growing interest in alternative cryptocurrencies.
The fund intends to mirror Solana’s price movements by focusing on futures contracts on exchanges regulated by the U.S. Commodity Futures Trading Commission (CFTC). Their strategy may also include financial instruments linked to Solana, with asset value determined from these investments. This approach could open the door to attracting large institutional interest in Solana.
Meanwhile, market analysts have noted the bold timing of the filing, as Solana futures contracts are not yet actively traded. Some have suggested that approval of this ETF could pave the way for a spot Solana ETF in the future.
“It’s crazy. The Solana futures ETF filing was filed before Solana futures contracts even existed… probably a good sign that they are on their way, which could be good for spot ETF prospects,” the analyst said. Bloomberg ETF analyst Eric Balchunas has speak.
Wave of Bitcoin ETF Profiles
Meanwhile, Bitcoin-related ETFs are seeing a wave of new applications. Nate Geraci, president of ETF Store, highlighted four profiles appeared in the last 48 hours.
REX Shares has proposed a Bitcoin Corporate Treasury convertible bond ETF, targeting bonds issued by companies with Bitcoin holdings in their treasuries. Similarly, Strive Asset Management plans to introduce a fund that invests in bonds of companies like MicroStrategy, known for its large Bitcoin allocation.
Bitwise also joined this trend with its Bitcoin Standard Corporations ETF. This fund is designed to invest in companies that hold Bitcoin as part of their financial reserves.
Meanwhile, ProShares is seeking approval for ETFs linked to major indexes such as the S&P 500 and Nasdaq-100, along with gold, all denominated in Bitcoin. This unique approach combines traditional assets with crypto exposure through Bitcoin futures.
“Basically a long position in underlying stocks or gold & then a short usd/long btc position using btc futures. I call these btc hedged ETFs,” Geraci said.
These filings highlight the growing confidence in cryptocurrencies as a mainstream asset class. Industry experts believe 2025 could mark a turning point, with institutional investment pouring into these innovative funds. In fact, spot Bitcoin ETFs have shown success this year, attracting more than $35 billion in net flows and managing assets in excess of $100 billion.
