CME Group revealed the Solana (SOL) futures launch on Mar. 17, pending regulatory approval, citing rising shopper demand. Nate Geraci, CEO of The ETF Retailer, famous that the event “positively bodes nicely” for SOL exchange-traded fund (ETF) prospects.
Based on a Feb. 28 assertion, the brand new Solana futures contracts might be obtainable in two sizes: a 25 SOL micro-contract and a 500 SOL bigger contract.
CME Group said that these choices are designed to accommodate a variety of market individuals, from institutional traders to lively merchants.
Giovanni Vicioso, world head of cryptocurrency merchandise at CME Group, highlighted that the launch goals to handle rising shopper demand. He added:
“As Solana continues to evolve into the platform of selection for builders and traders, these new futures contracts will present a capital-efficient instrument to help their funding and hedging methods.”
Furthermore, business figures comparable to Multicoin Capital’s Kyle Samani and Bitwise’s Teddy Fusaro famous that introducing SOL futures is an indication of market maturation, as refined instruments to handle crypto publicity are wanted.
CME Group’s Solana futures might be cash-settled and benchmarked in opposition to the CME CF Solana-Greenback Reference Charge. The reference charge offers 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 enhance the possibilities of an SOL ETF approval.
Based on Bloomberg ETF analysts Eric Balchunas and James Seyffart, the percentages of a Solana ETF being permitted within the US this yr are 70%. The SEC lately acknowledged spot SOL ETF filings from 5 issuers earlier in February.
The paperwork have been later included in 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, primarily based on Bitcoin and Ethereum ETFs’ flows, predicted that Solana ETFs could capture $3 billion to $6 billion in web flows.
The publish CME Group set to launch Solana futures on March 17, strengthening ETF prospects appeared first on CryptoSlate.
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