SOL Futures on CME: $12M in Volume, A Modest Beginning

SOL Futures on CME: A Slow Start on the CME Platform

SOL Futures on CME– Solana (SOL) made its debut in futures trading on the Chicago Mercantile Exchange (CME) on Monday, generating $12.3 million in notional daily volume, according to K33 Research. However, the opening day of SOL futures closed with $7.8 million in open interest, which is far lower than Bitcoin and Ethereum futures during their respective launches.

K33 Research’s Head of Research, Vetle Lunde, noted that when normalizing the volumes based on market caps at the time of launch, Solana futures were actually comparable to Bitcoin and Ethereum futures in terms of relative size. Lunde pointed out, “If you normalize volumes to market caps at the launch days, the launch aligns closer to the two.”

Bitcoin futures debuted on CME in December 2017, at the peak of a bull market, bringing in nearly $103 million in total value, with $20.9 million in open interest. Ethereum futures followed in early 2022, during a surge in crypto markets, with $31 million in daily notional value and $20 million in open interest.

Solana’s futures launch comes during a downturn in the broader cryptocurrency market, with SOL experiencing price declines after a rally in late 2024 and early this year. Currently trading around $125, SOL has dropped more than 8% from its weekend high and is at less than half of its all-time high, which occurred in January.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.