Two exchange -traded funds (ETFs) Tracking Futures in Solana (Sol) will be on the market on Thursday.

According to an archiving at Securities and Exchange Commission (SEC), Volatility shares launch LLC to ETFs, Volatility shares Solana ETF (Solz), which tracks Solana Futures and Volatility shares 2x Solana ETF (Sun) offering gear exposure.

Solz will have an administration fee of 0.95%, while dealers will be charged 1.85% for sun, according to archiving.

The products will be the first ever funds to track futures in Solana, which on a market capital of $ 66.5 billion is the sixth largest cryptocurrency on the market. The token has increased by 6% over the last 24 hours in line with the wider crypto market.

The launch of these funds can be significant in the approval of a spot of Solana ETF which would contain the token directly. SEC has previously stated that in order to approve a spot product, they would like to see an established futures market for the asset.

Following the launch of Spot Bitcoin (BTC) and Ether (ETH) ETFs last year, issuers have been looking to bring additional crypto-related products to the market.

Several issuers, including Grayscale, Franklin Templeton and Vaneck, have submitted paperwork to launch a spot of Solana ETF, which has not yet been reviewed by SEC. Bloomberg Intelligence ETF analysts believe there is a 75% chance of these funds to be approved by the end of this year.

However, a decision is likely not to be made until Paul Atkins, who has been nominated by President Donald Trump to act as President of SEC, is confirmed by the Senate. There is currently no hearing scheduled for Atkins.