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The CME futures listing bodes good for the changes of a SOL ETF listing successful 2025, analysts say.
Solana (SOL) futures traded for the archetypal clip connected the Chicago Mercantile Exchange (CME) Group’s US derivatives speech connected March 17 arsenic the cryptocurrency’s mainstream adoption gains momentum.
In February, CME tipped plans to list 2 types of SOL futures contracts: modular contracts representing 500 SOL and retail-friendly “micro” contracts representing 25 SOL each.
They are the archetypal regulated Solana futures to deed the US marketplace aft Coinbase’s launched successful February. The contracts are settled successful cash, not carnal SOL.
On March 17, the contracts’ archetypal trading day, SOL futures representing a notional worth of astir 40,000 SOL, oregon astir $5 cardinal astatine existent prices, changed hands connected the exchange, according to preliminary data from CME’s website.
Early pricing information indicates a perchance bearish sentiment connected SOL among traders. The CME does not people finalized information connected regular trading volumes until the consequent concern day.
The CME’s April futures contracts traded astatine a terms of $127 per SOL — $2 per token little than contracts expiring successful March, CME information shows.
On March 16, trading firms FalconX and StoneX completed the first-ever SOL futures commercialized connected CME, they said.
“Solana has travel a agelong mode successful the past 5 years,” Chris Chung, laminitis of Solana-based swap level Titan, told Cointelegraph connected March 17.
“Solana futures are going unrecorded connected the CME today, and SOL [exchange-traded funds] volition surely travel soon behind,” Chung said.
CME listed SOL futures connected March 17. Source: CME
Related: Solana CME futures extremity impending US ETF approvals — Exec
ETF support odds
On March 13, Chung told Cointelegraph helium expects the US Securities and Exchange Commission (SEC) to o.k. plus managers VanEck and Canary Capital’s projected spot Solana ETFs arsenic soon arsenic May.
At slightest 5 ETF issuers person filed with the US Securities and Exchange Commission to database spot Solana ETFs. The regulator has until October 2025 to marque a last determination connected the filings.
Bloomberg Intelligence gauges the likelihood that SOL ETFs are yet approved astatine astir 70%.
Futures contracts are standardized agreements to bargain oregon merchantability an underlying plus astatine a aboriginal date.
They are commonly utilized for hedging and speculation by retail and organization investors. Futures besides play a important supporting relation for spot cryptocurrency ETFs due to the fact that regulated futures markets supply a unchangeable benchmark for measuring a integer asset’s performance.
CME already lists futures contracts for Bitcoin BTC and Ether ETH. US regulators approved ETFs for some of those cryptocurrencies past year.
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