CME Group revealed the Solana (SOL) futures launch on Mar. 17, pending regulatory approval, citing growing shopper demand. Nate Geraci, CEO of The ETF Retailer, famous that the event “undoubtedly bodes nicely” for SOL exchange-traded fund (ETF) prospects.
In accordance with a Feb. 28 assertion, the brand new Solana futures contracts can be obtainable in two sizes: a 25 SOL micro-contract and a 500 SOL bigger contract.
CME Group acknowledged that these choices are designed to accommodate a variety of market members, from institutional buyers to lively merchants.
Giovanni Vicioso, world head of cryptocurrency merchandise at CME Group, highlighted that the launch goals to deal with growing shopper demand. He added:
“As Solana continues to evolve into the platform of selection for builders and buyers, these new futures contracts will present a capital-efficient software to assist their funding and hedging methods.”
Furthermore, trade figures equivalent to Multicoin Capital’s Kyle Samani and Bitwise’s Teddy Fusaro famous that introducing SOL futures is an indication of market maturation, as subtle instruments to handle crypto publicity are wanted.
CME Group’s Solana futures can be cash-settled and benchmarked towards the CME CF Solana-Greenback Reference Charge. The reference price gives a standardized day by day valuation of Solana in US {dollars}.
ETF odds boosted
Analysts view futures contracts as a spot crypto ETF approval requirement, as Bitcoin (BTC) and Ethereum (ETH) have adopted this path. Gaining futures contracts may increase the probabilities of an SOL ETF approval.
In accordance with Bloomberg ETF analysts Eric Balchunas and James Seyffart, the chances of a Solana ETF being accredited within the US this yr are 70%. The SEC just lately acknowledged spot SOL ETF filings from 5 issuers earlier in February.
The paperwork had been later included within the Federal Register between Feb. 12 and 18, that means the SEC now has 240 days to reply to the filings, ending on Oct. 16.
JPMorgan’s estimate, based mostly on Bitcoin and Ethereum ETFs’ flows, predicted that Solana ETFs may seize $3 billion to $6 billion in internet flows.
The put up CME Group set to launch Solana futures on March 17, strengthening ETF prospects appeared first on CryptoSlate.
