Solana News: Potential SOL ETF Could Outperform Ethereum, Predicts Multicoin Capital’s Samani

In a recent development, Multicoin Capital’s Kyle Samani has shared his Optimism about the future of Solana and its potential to outperform Ethereum with the launch of a Wall Street-friendly SOL ETF in 2025.

Multicoin’s Samani Explains Why SOL ETF Could Trounce ETH’s

Solana doesn’t yet have an exchange-traded fund, but one of the asset’s biggest backers, Multicoin Capital’s Kyle Samani, is betting that a Wall Street-friendly SOL ETF could come in 2025. He believes Solana is well-positioned to outperform Ethereum’s various similar products due to the fees being generated on-chain compared to the value of the asset’s totality. Samani has been publicly pressing the Securities and Exchange Commission (SEC) to approve a SOL ETF.

Launch Of Solana Futures On The CME: A Game-changer For Crypto?

Solana, a favorite among institutional investors, has received a boost with its inclusion among the strategic cryptos of the United States. The arrival of Solana futures contracts on the Chicago Mercantile Exchange (CME) could pave the way for a highly anticipated Solana ETF. On March 17, the CME welcomed Solana futures, joining Bitcoin and Ethereum on the platform. Two types of futures contracts are offered: one for large institutions, representing 500 SOL, and another for individual traders, covering 25 SOL.

Modest CME Solana Futures Debut Signals Possible ETF Demand

The Chicago Mercantile Exchange (CME) launched Solana (SOL) futures on March 17 with lackluster trading activity compared to Bitcoin (BTC) and Ethereum (ETH) futures. The SOL futures recorded a trading volume of $12.3 million and open interest of $7.8 million on the first day. In contrast, CME Bitcoin futures secured $102.7 million in launch day trading volume in December 2017, while Ethereum futures notched $31 million in volume. The modest fanfare surrounding the SOL futures launch could indicate future investor appetite for an ETF tracking the altcoin.

Solana CME Futures Launch with Modest Volume Compared to BTC and ETH Debuts

Solana’s SOL futures started trading on Monday on the Chicago Mercantile Exchange (CME) with little fanfare, booking $12.3 million in notional daily volume on day one and closing with $7.8 million in open interest. This falls short of similar debuts for Bitcoin (BTC) and ether (ETH) futures, which launched with $102.7 million and $31 million in first-day volume, respectively. The muted reception for SOL futures comes amidst bearish crypto market conditions and the decline of speculative memecoin activity.