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: 01.05.2025 Expectation: 1000 pips
GBPUSD to test level of 1.34 again
Yesterday at 10:58 AM 42
Brent sell
Period: 01.05.2025 Expectation: 660 pips
Trade uncertainty and excess OPEC+ supply are dragging down Brent
Yesterday at 08:49 AM 35
Period: 29.04.2025 Expectation: 600 pips
USDCAD to head towards 1.39400 after rebounding from 1.38200
Yesterday at 07:48 AM 28
Period: 02.05.2025 Expectation: 1669 pips
AUDCAD gains on potential easing of trade tensions between US and China
Yesterday at 07:02 AM 26
Period: 30.04.2025 Expectation: 12000 pips
ETHUSD set to test upper boundary of downtrend channel
24 April 2025 74
Period: 25.04.2025 Expectation: 500 pips
AUDUSD to fall to 0.63000
24 April 2025 42
Go to forecasts