The launch of the upcoming future contracts for Solana (SOL) at ExchandE Mercantile Exchange (CME), an American derivative exchange, indicates that the first American Funds (ETF) (ETF) will come soon.
On March 17, CME is preparing to launch Sol Futures. They will be among the first Solana Futures to reach the US market after the launch of Coinbase in February.
“The list” paves the way for the ultimate approval to Sol Etfs, “Chung told CointeleGraph.
Chong said that the US Securities and Stock Exchange Committee (SEC) is expected to approve the asset managers and Canary Capital Solana Solana Etfs as soon as possible.
Chung said that the presence of organized future contracts “indicates to the organizers that Solana matures as an asset, which makes it easier for them to shed light on additional financial products with risks and a similar type.”
Futures are unified agreements to buy or sell a basic origin in a future history. It plays a decisive support role in the investment funds circulating in the encrypted currency because organized futures markets provide a stable standard for measuring digital asset performance.
CME already lists the futures contracts for Bitcoin (BTC) and ETHER (ETH). American organizers agreed to the investment funds circulating in each of these encrypted currencies last year.
CME already lists the futures for encryption contracts, including bitcoin contracts. source: CME
Related to: CME Group Record Crypto Comples for Q4
Beyond memecoins
In addition, Solana Futures and ETFS will help expand the Solana growth story outside Memecoins, which was essential for Blockchain’s success in 2024, Chong said.
These products “will bring more dangerous and sticky capital and pave the way to develop other realistic use cases, such as payments and transfers,” according to Hong.
These cases of use are “[f]AR is more boring than memecoins, but it is a reliable source of long -term revenues that will keep the Solana price in the next bear market. “
Memecoin trading, largely associated with the famous pump platform.
However, the activity on the Solana network decreased in February after a series of mechanical scandals strained feelings between retail merchants.
Solana vs. Ethereum price chart. Source: TradingView
Ethereum competing
However, the trading volumes in the coded currency on Solana continues to compete with the entire ethereum ecosarian system, including scaling chains in the second layer.
Chung said he expected to take off the investment funds circulating in Solana between retailers, partly due to the challenges facing the ETHEREUM smart contract.
Solana has twice in Sol Sol Sol Mative twice in addition to Al -Atheer since early 2024, according to Tradingview.
The immediate price of ETHEREUM has fought since March 2024, when DENCun reduces the network upgrade by approximately 95 %.
“With the very weak procedure for the prices we see in ETH, Solana is now the only option for retailers who want to be encoded outside Bitcoin, but not ready to go fully.”
Bloomberg Intelligence has put up the possibilities of approval of SEC Solana Solana and Litecoin Etfs by 70 %.
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