The launch of the Solana futures ETF on CME was extremely anticipated however didn’t maintain investor enthusiasm.

Information from CME confirmed that quantity began comparatively sturdy on launch day, with 225 contracts traded, however declined rapidly over the next days to only 73 contracts, with a slight restoration by March 25.

Open curiosity began at 150 on March 17 and grew steadily to 294 by March 25, exhibiting some holding curiosity regardless of the risky quantity.

The desk revealed a complete quantity of 239 contracts, with 55 block trades and an open curiosity of 294 contracts, predominantly in April 2025 contracts. This reveals that just below half of merchants are positioned for a month-long publicity.

This quantity degree is notably low for ETF futures, particularly for a product tied to a high-profile coin like Solana. Comparatively, Bitcoin ETF futures noticed volumes within the 1000’s of contracts inside the first week after their launch in November 2017.

Solana futures, in contrast, are underperforming relative to expectations for a brand new crypto ETF futures product, notably one following the success of Bitcoin and Ethereum.

Whereas the launch was highlighted as a milestone for crypto derivatives within the US, its debut was unremarkable, particularly when in comparison with the surge in different altcoins throughout the identical interval.

A number of elements may clarify the tepid response. Regardless of the hype surrounding a futures ETF, a spot Solana ETF continues to be anticipated. This could possibly be what’s pushing traders to carry off till a extra direct funding automobile is accessible.

Spot ETFs usually appeal to extra retail and institutional curiosity on account of their easy publicity to the underlying asset.