Solana Futures See Strong Open Interest—Is Wall Street Taking Notice?

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Solana futures officially began trading on the Chicago Mercantile Exchange (CME) on March 17, 2025. The launch is intended to drive its institutional acceptance.

Data from K33 Research pegs the debut notional trading volume at $12.3 million, with open interest reaching $7.8 million by day’s end.

While this marks a positive step, the figures are disappointing compared to Bitcoin (BTC) and Ethereum (ETH) launches, raising controversy over SOL’s market penetration.

How Solana Futures Fare Against Crypto Giants

Bitcoin’s CME futures kicked off in December 2017 with a trading volume of $102.7 million and open interest of $20.9 million, while Ethereum followed in February 2021, with a $31 million in volume and $20 million in open interest.

Also read: Maximizing Profits with Solana Sniper Bots

Solana’s raw figures—$12.3 million in volume and $7.8 million in open interest—suggest a more subdued launch. However, these headline figures don’t fully capture the story, given market conditions and capitalization change so quickly between these periods.

Solana’s Quiet Strength Revealed

A clearer comparison comes to light when normalizing for market capitalization at launch.

Bitcoin had a $320.58 billion market cap, yielding a volume ratio of 0.032% and an open interest ratio of 0.00652%, while Ethereum, with a $200.15 billion market cap, recorded a volume ratio of 0.0155% and an open interest ratio of 0.01%.

SOL, on the other hand, with a market cap of $64 billion posted a volume ratio of 0.0192% and an open interest ratio of 0.0121875%. This volume ratio at 0.0192% surpasses that of Ethereum’s at 0.0155%, but trails Bitcoin’s 0.032%, aligning it closer to Ethereum’s debut.

Also read: Solana ETFs: Understanding Their Impact

Solana’s open interest ratio at 0.0121875% beats both, which may indicate a higher relative institutional desire to hold SOL positions even in a bearish market.

What Does This Mean for Solana?

SOL’s launch isn’t as bad as unadjusted figures imply. The greater open interest ratio points to trader confidence, with the potential for strong market resilience and future growth.

Also read: Best Solana Wallets for Secure Storage

Analysts, including K33 Research, see CME futures as a stepping stone toward spot ETFs, following the path blazed by Bitcoin and Ethereum.

Author

Toheeb Kolade

Toheeb is an insightful blockchain reporter with deep knowledge of cryptocurrencies. With years of experience in financial journalism, Toheeb covers the latest developments in blockchain technology, cryptocurrency trends, decentralized finance (DeFi), and regulatory updates. Known for breaking news and in-depth analysis, Toheeb brings new angles on how blockchain is transforming industries and changing the global economy. From uncovering market movements to providing expert commentary on new technologies, Toheeb is dedicated to keeping readers informed about the developments in blockchain-related topics.

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