Modest CME Solana futures fanfare signals possible ETF turnout: K33

The demand for the CME Solana Futures product could indicate a future appetite for investors for an ETF according to Altcoin.

CME Solana (GROUND) Futures made its debut in a dull negotiation activity compared to bitcoin (BTC) and Ethereum (Ethn) Future products on Mercantile Chicago Exchange, wrote K33, research manager, Vetle Lunde and main analysts David Zimmerman.

Launched on March 17, CME Sol term contracts recorded a modest of $ 12.3 million for the negotiation volume and only $ 7.8 million in open interest. Conversely, CME Bitcoin Futures obtained $ 102.7 million in the launching day volume in December 2017.

Ethereum and term on the site also marked $ 31 million in volume on the first day, and an open interest was noted at $ 20.9 million, more than CEM Futures managed on the first day.

Although Lunde and Zimmerman noted that CME Solana’s term contracts were launched on an uncertain market, analysts assumed that commercial figures can report a lack of institutional demand and investors for altcoins, in particular outside Ethereum.

The report theorized that the funds negotiated on Solana can attend an investors’ so silent reception if the American commission for securities and the exchange approves these products. As of March 18, at least six American transmitters, including Vaneck, 21Shares, Bitwise, Canary Capital, Gray level investmentsAnd Franklin Templeton, deposited with the dry to include the actions of an ETF Spot Sol.