Launch Of Solana Futures On The CME: A Game-changer For Crypto?

Solana, already a favorite among institutional investors, has just received a serious boost from Donald Trump, who has placed it among the strategic cryptos of the United States. A significant recognition for this altcoin, which continues to expand its influence. Now, Solana takes a new step with the arrival of its futures contracts on the Chicago Mercantile Exchange (CME), an event that could well pave the way for a highly anticipated Solana ETF by the market.

Solana makes a strong entry into the futures market

On Sunday, March 17, the CME welcomed the very first futures contracts for Solana. A strong signal for the institutional adoption of the digital asset, which thus joins Bitcoin and Ethereum on the famous financial derivatives platform. Two types of contracts are offered: one for large institutions, representing 500 SOL, and another more accessible to individual traders, covering 25 SOL.

From day one, nearly 40,000 SOL, or about 5 million dollars, changed hands on the CME.

A promising start, although some observers note a slight downward price shift on the contracts. Indeed, April futures traded at 127 dollars per SOL, which is 2 dollars less than those in March. A caution that might reflect a market waiting for more volume.

Chris Chung, founder of the exchange platform Titan, does not hide his enthusiasm:

Solana has come a long way in five years. Its futures arrive on the CME today, and the ETFs will follow closely.

An optimism shared by many investors, who see in this evolution a doorway to new financial products based on Solana.

However, a question arises: is the trading volume sufficient to convince the SEC to expedite the approval of a Solana ETF?

As Jack Kubinec points out on X, only 110 contracts were traded on the first day, far from what the regulatory body considers a “significant size” market.

Towards a crypto ETF on Solana: an uncertain bet?

The arrival of futures on Solana reignites the debate on the creation of a crypto ETF based on SOL, a key issue for its adoption by the general public and institutional investors. To date, five ETF issuers have filed applications with the SEC to list a Solana spot ETF.

The regulatory authority has until October 2025 to render its verdict.

Why such enthusiasm around crypto ETFs? Simply because they facilitate access to digital assets without requiring the direct purchase of tokens. A mechanism that has already allowed Bitcoin and Ethereum to attract a massive influx of capital when they obtained their own ETF.

But the SEC has not yet given a clear signal regarding its position on Solana.

The key element lies in the strength of the regulated futures market. Futures contracts play a crucial role in serving as a reliable indicator for the underlying assets. However, to obtain an ETF, Solana will have to prove that its futures on the CME reach a critical size.

Some analysts remain cautious, like Jack Kubinec, who points out that the low volume of early trades on the CME could dampen the SEC’s enthusiasm. On the other hand, major players like FalconX and StoneX do not hide their optimism.

FalconX even executed the very first block trade on SOL futures, stating its aim to become the go-to institutional gateway for the crypto market.

It remains to be seen whether Solana will manage to attract enough traders to convince the SEC to take the plunge. After all, Bitcoin and Ethereum have already shown the way… So, will Solana be the next chosen one in the crypto market?

Regarding the Solana ETF, VanEck estimates that there is an 85% chance of it being approved in 2025. By then, the market will have to prove that Solana is well-established among the big players.