19 March | Other

CME Group's launch of derivatives on Solana confirms strong institutional interest

CME Group's launch of derivatives on Solana confirms strong institutional interest

The Chicago Mercantile Exchange (CME) has started trading derivatives on Solana (SOL). This indicates a growing institutional interest in the cryptocurrency. On the first day of trading (March 17), the trading volume of SOL totaled $12.3 million. This is below the figures shown by the debut of BTC ($102.7 million) and ETH ($31 million) contracts.

Open interest in SOL contracts reached $7.8 million. This is also less than the results of BTC and ETH trading instruments at launch. However, considering Solana's market capitalization, these figures are comparable to previous CME products, the experts note.

The total open interest in the SOL derivatives market is $3.84 billion, with Binance taking the lead with 27% of positions. CME's analysts suggest it could build up its market share, as it did with bitcoin contracts.

The launch of the trading instrument on Solana strengthens institutional recognition of the cryptocurrency and may contribute to the approval process for ETFs, potentially attracting new investors. The information was provided by The Tradable.

Elena Dorohina MarketCheese
Period: 14.05.2025 Expectation: 1650 pips
Technical and fundamental background supports AUDCAD
07 May 2025 76
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 08.05.2025 Expectation: 550 pips
EURUSD to drop to 1.13000
07 May 2025 52
Period: 13.05.2025 Expectation: 240 pips
Brent crude price rebound to continue up to 65
07 May 2025 69
Period: 14.05.2025 Expectation: 1000 pips
Buying GBPUSD amid trade talks and weaker dollar with target at 1.344
07 May 2025 34
Period: 12.05.2025 Expectation: 1500 pips
USDJPY rebound fades ahead of Fed meeting
06 May 2025 68
Period: 30.05.2025 Expectation: 975 pips
Natural gas maintains upside potential within megaphone pattern
06 May 2025 75
Go to forecasts