The Chicago Mercantile Exchange (CME), which is an American derivative exchange, plans to launch a trade of Solana (Civil) Future. The move shows that approval of the first Solana Traded Fund (ETF) in the United States is approaching, Chris Chang, founder of the Swap Platform -based swip platform, told Quintil Graph.
On March 17, the CME has to make a list of its solo future contracts. It will be one of the Solana Futures, which will appear in the US market after a future trading launched by Coin Base in February.
“In this listing, the path is paved for the approval of the future of Solana ETF,” says Chang.
Chang expects the US Securities and Exchange Commission (SEC) to approve the Physical Solana ETF filed by another Canary Capital in early May.
Chen noted, “The presence of a regulated Solana futures indicates regulators that Solana is solid as an asset, facilitating the approval of additional financial products with similar risks and properties.”
Relationships between futures markets and cryptocurrency etfs
The Future Contract is a standard contract to buy and sell basic assets in the future. Regulated Futures Markets play an important role in supporting the Cryptocurrency ETF as they provide a stable standard for measuring digital assets.
The CME has already filed a Futures contracts for Bitcoin (BTC) and Ethereum (ETH) and ETF’s crypto currencies that were approved in the United States last year.
Progress beyond meme coins
Chang also said that Solana’s future, and Solana ETF, will encourage progress ahead of the Coin Market, which supported Solana’s development in 2024.
“This product will attract more sustainable capital and encourage real -world use issues such as payments and remittances,” he said.
“It may not be as shiny as a lamb, but it will be a long -term revenue series that will support the price of Solana in the next bear market.”
According to Wan Ek, an asset management company, about 80 % of the revenue of Solana’s blockchain network relys on Mem Coin Trading through platforms like pump dotphone.
However, in February, a series of Memovian Labra scandals has slowed the activity on the Solana network and increased emotions among individual investors.
Solana vs. Ethereum Price Chart. Source: Trading View
Competition with Ethereum
Van One reported on March 6, yet, the volume of cryptocurrency trade on Solana lives compared to the entire ecosystem, including Ethereum’s layer 2 scaling chain.
Chang expects Solana ETF to be popular among individual investors, and the challenges behind it are its rival Ethereum.
Solana’s ancestral token, civil, has been performing twice from Ether (ETH) since early 2024.
Meanwhile, despite the dancing upgrades in March 2024, Ethereum prices have been stagnant, which has reduced the transaction fees by about 95 %.
“Given ETH’s highly downturn, Solana is the only option for individual investors who want to invest in any crypto currencies other than Bitcoin but do not want to take over,” said Chen.
