{"id":125253,"date":"2025-03-17T22:15:58","date_gmt":"2025-03-17T22:15:58","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125253"},"modified":"2025-03-17T22:15:58","modified_gmt":"2025-03-17T22:15:58","slug":"solana-futures-finish-first-trading-day-on-cme","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125253","title":{"rendered":"Solana futures finish first trading day on CME"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSolana (SOL) futures traded for the first time on the Chicago Mercantile Exchange (CME) Group\u2019s US derivatives exchange on March 17 as the cryptocurrency\u2019s mainstream adoption gains momentum.<br \/>\nIn February, CME tipped plans to list two types of SOL futures contracts: standard contracts representing 500 SOL and retail-friendly \u201cmicro\u201d contracts representing 25 SOL each.\u00a0<br \/>\nThey are the first regulated Solana futures to hit the US market after Coinbase\u2019s launched in February. The contracts are settled in cash, not physical SOL.<br \/>\nOn March 17, the contracts\u2019 first trading day, SOL futures representing a notional value of nearly 40,000 SOL, or nearly $5 million at current prices, changed hands on the exchange, according to preliminary data from CME\u2019s website.<br \/>\nEarly pricing data indicates a potentially bearish sentiment on SOL among traders.\u00a0The CME does not publish finalized data on daily trading volumes until the subsequent business day.\u00a0<br \/>\nThe CME\u2019s April futures contracts traded at a price of $127 per SOL \u2014 $2 per token less than contracts expiring in March, CME data shows.\u00a0<br \/>\nOn March 16, trading firms FalconX and StoneX completed the first-ever SOL futures trade on CME, they said.<br \/>\n\u201cSolana has come a long way in the last five years,\u201d Chris Chung, founder of Solana-based swap platform Titan, told Cointelegraph on March 17.<br \/>\n\u201cSolana futures are going live on the CME today, and SOL [exchange-traded funds] will surely follow shortly behind,\u201d Chung said.\u00a0<br \/>\nCME listed SOL futures on March 17. Source: CMERelated: Solana CME futures tip impending US ETF approvals \u2014 Exec<br \/>\nETF approval odds<br \/>\nOn March 13, Chung told Cointelegraph he expects the US Securities and Exchange Commission (SEC) to approve asset managers VanEck and Canary Capital\u2019s proposed spot Solana ETFs as soon as May.<br \/>\nAt least five ETF issuers have filed with the US Securities and Exchange Commission to list spot Solana ETFs. The regulator has until October 2025 to make a final decision on the filings.\u00a0<br \/>\nBloomberg Intelligence gauges the likelihood that SOL ETFs are ultimately approved at approximately 70%.<br \/>\nFutures contracts are standardized agreements to buy or sell an underlying asset at a future date.\u00a0<br \/>\nThey are commonly used for hedging and speculation by retail and institutional investors. Futures also play a crucial supporting role for spot cryptocurrency ETFs because regulated futures markets provide a stable benchmark for measuring a digital asset\u2019s performance.<br \/>\nCME already lists futures contracts for Bitcoin BTC and Ether ETH. US regulators approved ETFs for both of those cryptocurrencies last year.<br \/>\nMagazine: 5 real use cases for useless memecoins<a href=\"https:\/\/cointelegraph.com\/news\/solana-futures-finish-first-day-of-listing-on-cme?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsSolana (SOL) futures traded for the first time on the Chicago Mercantile Exchange (CME) Group\u2019s US derivatives exchange on March 17 as the cryptocurrency\u2019s mainstream adoption gains momentum.&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125253"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125253"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125253\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125253"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}