Solana Gains Ground on the CME: An ETF on the Horizon?
Solana is indeed gaining ground on the Chicago Mercantile Exchange (CME) with the launch of futures contracts (futures) on SOL in March 2025, which is seen as a strong sign of market maturity and an important step towards the eventual approval of a Solana ETF.
Key Points on Solana and the CME
Solana futures began with an initial volume of $12.3 million and an open interest of $7.8 million, modest figures compared to the launches of Bitcoin and Ethereum futures, but consistent when adjusted for Solana's market capitalization.
The Solana futures market totals a global open interest of $3.84 billion across multiple platforms, with Binance, Bitget, and Gate.io as leaders.
The CME offers two contract sizes (micro and standard), suitable for different investor profiles, enhancing the accessibility and liquidity of the product.
This introduction is seen as a key step towards the approval of a Solana ETF, as futures are often a regulatory prerequisite for crypto ETFs, as was the case for Bitcoin and Ethereum.
Prospects for a Solana ETF
Analysts estimate the chances of a Solana ETF approval in 2025 at about 70%, with several applications filed with the SEC by major players like Grayscale, VanEck, Bitwise, etc..
The approval of a spot Solana ETF would allow regulated access via traditional brokerage platforms, facilitating institutional and retail investment without the need for direct management of crypto wallets.
JPMorgan predicts that net inflows to a Solana ETF could reach between $3 billion and $6 billion, highlighting strong potential for institutional adoption.
Moreover, Solana is benefiting from increasing adoption in traditional finance, particularly due to its low transaction costs.