{"id":12703,"date":"2024-05-30T11:46:08","date_gmt":"2024-05-30T11:46:08","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/solana-etf-hopes-take-a-big-damper-cme-denies-any-plans\/"},"modified":"2024-05-30T11:47:44","modified_gmt":"2024-05-30T11:47:44","slug":"disappointment-as-cme-reveals-no-plans-for-solana-etf","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/disappointment-as-cme-reveals-no-plans-for-solana-etf\/","title":{"rendered":"Disappointment as CME Reveals No Plans for Solana ETF"},"content":{"rendered":"\n<p>A recent leak from a reliable source suggests that the Chicago Mercantile Exchange (CME) has no intentions to introduce Solana futures. This development deals a significant blow to the hopes of having a Solana Exchange Traded Fund (ETF) in the US markets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">CME HAS NO PLANS TO OFFER SOLANA FUTURES: PERSON FAMILIAR<\/p>\n<p>Source: DB | Coins: SOL<\/p>\n<p>\u2014 db (@tier10k) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tier10k\/status\/1795890300981821443?ref_src=twsrc%5Etfw\">May 29, 2024<\/a><\/p>\n<\/blockquote>\n<h2>Impact on Solana ETF Expectations<\/h2>\n<p>Scott Johnsson, a finance lawyer at Van Buren Capital, discussed the regulatory challenges facing Solana. He emphasized that while a Solana ETF does not hinge on CME\u2019s involvement as the designated contract market (DCM), it would require a robust framework with a Custody and Security Services Agreement (CSSA) and adequate liquidity.<\/p>\n<p>Johnsson also highlighted the SEC\u2019s actions against major crypto exchanges like Coinbase and Binance as a hurdle for potential ETFs involving Solana. He suggested that a change in the SEC\u2019s administration or policies would be necessary for Solana to move forward with an ETF.<\/p>\n<p>Johnsson underscored the community\u2019s focus on a futures ETF as a prerequisite to a spot ETF, given the current regulatory landscape. A Bloomberg ETF analyst, James Seyffart, echoed these sentiments, cautioning against registering Solana futures with the CFTC as \u2018Commodities Futures\u2019 based on past mistakes with Bitcoin and Ethereum.<\/p>\n<p>The SEC\u2019s classification of Solana as a security in lawsuits against Binance and Coinbase adds further regulatory complexity to the asset\u2019s future. The recent news from the CME has dampened hopes for Solana\u2019s presence in futures markets and cast a shadow over the prospects of a spot ETF in the foreseeable future.<\/p>\n<p>Despite this setback, the SOL price remained stable following the announcement. As of now, SOL is trading at $163.83, in line with the overall market trend.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent leak from a reliable source suggests that the Chicago Mercantile Exchange (CME) has no intentions to introduce Solana futures. This development deals a significant blow to the hopes of having a Solana Exchange Traded Fund (ETF) in the US markets. CME HAS NO PLANS TO OFFER SOLANA FUTURES: PERSON FAMILIAR Source: DB | [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12704,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Disappointment as CME Reveals No Plans for Solana ETF - Bitrabo","description":"A recent leak from a reliable source suggests that the Chicago Mercantile Exchange (CME) has no intentions to introduce Solana futures. This development deals a"},"footnotes":""},"categories":[316],"tags":[989,4173,4474,1353,1923,4473,1241,1213],"class_list":["post-12703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-big","tag-cme","tag-damper","tag-denies","tag-etf","tag-hopes","tag-plans","tag-solana"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=12703"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12703\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/12704"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=12703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=12703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=12703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}