CME officially launches Solana futures contracts today

TechFlow news, March 17 — According to The Block, the Chicago Mercantile Exchange (CME) officially launched Solana (SOL) futures contracts today, seen by the industry as a significant step toward approval of a SOL spot ETF. CME Group's newly introduced SOL futures come in two specifications: a micro contract covering 25 SOL and a standard contract covering 500 SOL.

Chris Chung, founder of Solana exchange platform Titan, stated in a press release: "This is a major milestone for Solana, paving the way for the eventual approval of a SOL ETF." VanEck's Head of Digital Asset Research, Matthew Sigel, also commented on X, saying this brings the launch of a SOL ETF "a big step closer." Currently, at least 13 exchange-traded products based on SOL are awaiting approval from the U.S. Securities and Exchange Commission (SEC).