solana Futures Launch Shows Mixed Investor Interest
The CME Solana (SOL) futures product recently debuted with modest trading activity. According to K33’s research team, the launch on March 17 saw a trading volume of $12.3 million and open interest of $7.8 million.this is considerably lower compared to the debut of Bitcoin (BTC) and Ethereum (ETH) futures on the same exchange.
As a notable example, Bitcoin futures launched with $102.7 million in trading volume in December 2017. Ethereum futures also outperformed Solana, with $31 million in volume and $20.9 million in open interest on its first day.
Analysts Vetle Lunde and David Zimmerman attribute the lower numbers partly to market uncertainty. However,they suggest this could indicate a lack of institutional and investor interest in altcoins beyond ethereum.
The subdued response may also hint at a similar reception for spot Solana exchange-traded funds (ETFs).if approved by the U.S. Securities and Exchange Commission, these ETFs could face similar challenges. Currently, at least six U.S. issuers, including VanEck and Grayscale Investments, have filed to list a spot SOL ETF.
While the future of Solana ETFs remains uncertain, the initial futures launch offers a glimpse into investor sentiment. For more insights, check out K33’s full report.
