CME Group is doubtlessly getting ready to launch futures contracts for Solana (SOL) and XRP, based mostly on stories and pictures shared on social media on January 22.
Nonetheless, CME Group has but to make a public assertion on the matter, and has neither confirmed nor denied the authenticity of the photographs on the time of publication, resulting in a lot hypothesis.
The data first appeared when a consumer X, recognized as Summers, frequent a screenshot of a purported CME web page used for testing. This web page, which was unavailable on the time of publication, is deliberate for pre-launch on February 10.
Alex Thorn, head of analysis at Galaxy Digital, then shared photographs developer that CME would supply futures and micro futures contracts for each belongings, all of which might be settled in money.
The Solana futures contract has a measurement of 500 SOL, whereas the micro is 25 SOL. The XRP futures contract has a measurement of fifty,000 XRP and its micro model has a measurement of two,500 XRP.
James Seyffart, analyst at Bloomberg ETF warned that the web page may very well be faux. Nonetheless, he added that futures for SOL and XRP make sense and are “largely predictable.”
Seyffart additionally famous that if the photographs and web site are faux, it could be a “good counterfeit.”
In the meantime, Eric Balchunas, senior ETF analyst at Bloomberg he mentioned wait an exchange-traded fund (ETF) that tracks SOL futures beginning in mid-March. He additionally questioned the demand for such a product since a spot SOL ETF will possible be obtainable quickly.
30+ ETFs
The US market is seeing a wave of crypto-related ETF filings. Seyffart not too long ago highlighted that 33 ETFs, filed by 13 completely different issuers, are presently awaiting approval by america Securities and Trade Fee (SEC).
Along with the ETFs filed final yr, which observe XRP, SOL, Hedera (HBAR), Litecoin (LTC), and baskets of belongings, memecoin-related funds have additionally surfaced.
On January 21, Rex shares filed for seven completely different spot ETFs, three of them linked to the memecoins Official Trump (TRUMP), Dogecoin (DOGE), and Bonk (BONK). Balchunas remarked that the state of affairs was “surreal.”
Regardless that Bloomberg ETF analysts anticipated a wave of crypto ETF deposits this yr, they didn’t embrace memecoin-indexed spot funds of their forecasts.
Matthew Sigel, head of digital belongings analysis at VanEck, referred to as SEC to return to ETF approvals on a first-come, first-served foundation amid rising variety of new purposes.
