The launch of Solana (SOL) futures at the Chicago Merchants Exchange (CME), the US derivatives exchange, will be released soon, and the list of ETFs will be released soon, and Chris Chung, the founder of Solana-based swap platform Titan, is the founder of Solana-based swap platform. I spoke to Cointelegraph.
On March 17, CME is preparing to start a SOL futures contract. They will be one of the first regulated solana futures in the US market after Coinbase was released in February.
CHUNG told Cointelewraph that “has opened a way for the final approval of SOL ETF.”
Jung said that the US Securities and Exchange Commission (SEC) expects to approve the proposed SPOT Solana ETFS in May in May.
“The presence of the regulatory Solana futures is” a signal of regulators that Solana is mature with assets, making it easier to illuminate similar risks and types of additional financial products, “Chung said.
Futures contracts are standardized contracts for purchasing or selling basic assets in the future. The regulated futures market provides a stable benchmark for measuring the performance of digital assets, so it plays an important role in the Spot Cryptocurrency ETF.
The CME already lists the gift contracts of Bitcoin (BTC) and Ether (ETH). Last year, US regulators approved the ETF for all of these cryptocurrencies.
CME already lists encryption gifts, including Bitcoin contracts. source: Cme
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Beyond the memo coin
In addition, Solana Futures and ETF will help to expand Solana’s growth story beyond Memecoins, the center of the 2024 blockchain network, CHUNG said.
According to the articles of incorporation, these products said, “We will open a way to bring more serious and sticky capital and develop other practical use cases such as payment and remittance.”
These use cases are “(f)” (F) is boring than a memo coin, but it is a reliable long -term source of imports that can be built in Solana’s price in the next bear market. “
According to the asset manager Vaneck, Memecoin Trading, related to popular pumps, accounts for about 80%of the revenue of Solana blockchain networks.
However, the activity on the Solana network decreased after a series of scandals related to Memecoin among retail merchants in February.
SOLANA vs. Ether Lee Rim Price Chart. Source: TradingView
Rival Ring Ether Lee
Nevertheless, Solana’s cryptocurrency trading volume continues to compete for the entire Etherum ecosystem, including the layer -2 scaling chain on March 6, Vaneck said.
CHUNG expects Solana ETFS to take off among retail investors, and partially problematic caused by the problem of the rival smart contract platform Ether Leeum.
According to TradingView, Solana’s Aboriginal Sol Token has been about twice as much as ether since early 2024.
Ether Lee’s spot price has been difficult since March 2024, since the network’s Dencun Upgrade trading fee has decreased by about 95%.
“With the very weak price behavior we see in ETH, Solana is the only option for retail investors who want to be exposed to a passcoin or higher password, but they will not be willing to fight.
Bloomberg Intelligence has set the probability of the SP SPOT SPOT Solana and Litecoin ETF to 70%.
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