The upcoming launch of Salana (Sol) futures on the Chicago Mercantile Exchange (CM), a US derivatives exchanges indicates that the first US Sol Exchange-Treded Fund (ETF) listing is coming soon, Solna-based swap platform Titon’s founding Chris Chung by Chris Chung by Chris Chung.
On March 17, CME Sol Futures is preparing to launch contracts. He will be one of the first regulated Solan futures to hit the US market after the launch of the Coinbase in February.
Listing “Sol paves the route for the final approval of ETF,” Chung told the cointolagraph.
Chung said that he hoped that the US Securities and Exchange Commission (SEC) will be approved as May to Spot Salana ETF of Asset Manager Vanoc and Canary Capital.
Chung said that the existence of regulated Solana futures “indicates the regulators that Solana is maturing as a property, making it easy for them to greenlite the same risk and type of additional financial products,” Chung said.
The futures contracts for purchasing or selling underlying property on the future date are standardized agreements. They play an important accessory role for spot cryptocurrency ETFs because regulated futures provide a stable benchmark to measure the performance of digital asset.
The cme already lists futures contracts for bitcoin (BTC) and ether (Eth). American registers approved the ETF for both those cryptocurrency last year.
CME already lists Crypto futures including bitcoin contracts. Source: CME
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Beyond memecoin
Additionally, Solana Futures and ETF Memcoin will help expand the development story of Solana beyond which was central for the success of the blockchain network in 2024, Chung said.
These products will “bring more severe, sticky capital and pave the way for the development of other real -world use, such as payment and remittance,” according to Chung.
They are cases of use “[f]More boring than Memcoins is a reliable source of long -term revenue that will increase the price of Solana in the next bear market. ,
According to asset manager Vanoc, Memcoin Trading, largely popular pump. Connected to the fun platform, about 80% of the revenue of the Solana blockchain network.
However, activity on Solana network declined in February following a series of Memcoin-related scams.
Solana vs Atherium Price Chart. Source: TardingView
rival
Nevertheless, the cryptocurrency trading volumes on Solana continue to rival the entire atherium ecosystem, including its layer -2 scaling chain, Venak said on 6 March.
Chung said he hopes that Solana ETF is expected to be launched among retail investors, partially rival smart contract platforms due to challenges facing the atherium.
According to the tradingview, Solana’s native Sol Token has performed ether about twice as well as ether from the beginning of 2024.
Since March 2024, the spot price of the atherium has struggled, when Denkun of the network has upgraded a deduct transaction fee of about 95%.
“With extremely weak price action, we are looking at Eth, Solan is now the only option for retail investors who want to get an exposure for crypto beyond bitcoin, but are not ready to go full dejen,” Chung said.
Bloomberg Intelligence has determined SEC Solna and Litcoin ETF at 70%.
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