Solana futures finish first trading day on CME
Solana futures debuted on the Chicago Mercantile Exchange (CME) on March 17, marking a significant milestone in the cryptocurrency's mainstream adoption. CME announced plans for standard contracts representing 500 SOL and micro contracts for 25 SOL each, making these the first regulated Solana futures available in the US. On their first trading day, approximately 40,000 SOL, valued near $5 million, were traded, with early pricing data suggesting bearish sentiment among traders. CME’s April contracts traded at $127 per SOL, $2 lower than those expiring in March. Experts, including Chris Chung from Titan, noted Solana's growth over the past five years. Additionally, ETF analysts predict that the SEC may approve spot Solana ETFs for issuers like VanEck and Canary Capital by May 2025, with a 70% likelihood of approval. Futures are essential for both hedging and as benchmarks for spot ETFs. CME also lists futures for Bitcoin and Ether, which have already been approved for ETFs.
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