Solana continues to solidify its market position with the launch of future contracts on the Chicago Mercantile Exchange (CME). This event could set the stage for a much-anticipated Solana ETF.
Solana Futures Launch
On March 17, the CME debuted its first Solana futures contracts, marking a significant step in the institutional adoption of this digital asset. Two types of contracts are available: one for large institutions (500 SOL) and another for individual traders (25 SOL). The first day saw trading of nearly 40,000 SOL, equivalent to about $5 million. Some observers noted a slight price decrease.
Solana ETF: An Uncertain Future?
The launch of Solana futures reopens the debate on creating a SOL-based ETF. Five issuers have filed applications with the SEC, which has until October 2025 to make a decision. ETFs simplify investing in cryptocurrencies without buying tokens directly. However, the SEC has not given any clear signals regarding a Solana ETF.
Will Solana be Among the Chosen?
Solana must demonstrate significant trading volumes on the CME to garner SEC attention for ETFs. Major players like FalconX and StoneX are optimistic. VanEck predicts an 85% chance of Solana's ETF approval by 2025.
Solana continues to expand its market influence but needs to show robust volumes on the CME to ensure ETF success. With a tight timeframe, Solana must follow the lead of giants like Bitcoin and Ethereum.
