CME Exchange Sees 370% Surge in Solana Futures Activity Amid ETF Hype

Solana futures on CME Group's platform experienced explosive growth in July, with open interest soaring 370% month-over-month to $800 million. The rally followed approval of the Rex-Osprey solana ETF and growing anticipation of additional crypto ETF launches.

Trading volumes mirrored this trend, jumping from $2.2 billion in June to $8.1 billion in July. The contracts, launched in March with sizes of 25 SOL and 500 SOL per batch, initially struggled during crypto's spring downturn before gaining momentum with the broader market recovery.

Open interest reached a peak of $5 billion on July 14 during peak market enthusiasm, though subsequent liquidations reduced positions. The past 24 hours alone saw $92 million in centralized exchange liquidations and $77.45 million on-chain.