CME Solana futures have shown lackluster activity compared to Bitcoin and Ethereum futures. Analysts evaluate the prospects of investing in altcoin.
Launch and Initial Results
The CME Solana futures launched on March 17. On the first day, trading volume was $12.3 million, and open interest was only $7.8 million.
Comparison with Bitcoin and Ethereum
In comparison, CME Bitcoin (BTC) futures reached $102.7 million in trading volume on their launch day in December 2017. Ethereum (ETH) futures also showed stronger results with a volume of $31 million and open interest of $20.9 million.
Impact on Future Investments and ETFs
Analysts suggest that modest figures may reflect a lack of interest in altcoins among major investors. If approved by the SEC, a spot Solana ETF might receive a similarly lukewarm reception. Currently, six firms, including VanEck and Grayscale, have filed for a SOL ETF.
The weak performance of CME Solana futures may indicate a lack of demand for altcoins, although the market remains in a state of uncertainty.
