TLDR
- CME open interest for SOL reached a record $2.16 billion as the price climbed 23% to $235
- Solana exchange-traded products crossed $500 million in total assets under management this week
- CME Group announced plans to launch 24/7 SOL futures and options trading starting October 13
- Retail traders remain cautious after $307 million in liquidations on September 22
- The SEC is expected to decide on SOL ETF applications by October 10
Solana futures activity reached new heights as CME open interest hit an all-time high of $2.16 billion. The price rebounded 23% to $235 from a local bottom of $195 on Friday.
The CME annualized basis sat at 16.37%. This level remains well below the 35% peak seen in July. The metric reflects optimism without signs of overheated sentiment.
Institutional volumes surged on CME after SOL established its bottom. The timing comes ahead of the SEC’s October 10 decision on SOL ETF applications.
Retail-driven open interest on centralized exchanges stayed relatively flat during the rally. Funding rates hover near neutral levels. This divergence shows institutions positioning while retail remains cautious.
The caution follows $307 million in liquidations on September 22. Long positions worth $250 million were wiped out during that event. Traders appear reluctant to chase momentum with high leverage.
Exchange-Traded Products Cross Major Milestone
Solana exchange-traded products reached $500 million in total assets under management this week. The Solana Staking ETF from REXShares surpassed $400 million. The Bitwise Solana Staking ETP broke above $100 million in assets.
These inflows underscore the rapid growth of regulated vehicles for Solana exposure. The milestone reinforces institutional appetite for the asset through traditional financial products.
CME Group announced plans to expand its derivative offerings beyond Bitcoin and Ethereum. Solana and XRP are among the first altcoins set to become available on October 13.
The platform will offer round-the-clock futures and options trading for these assets. Full 24/7 trading is expected to launch in early 2026. CME cited record volumes in crypto futures and options this year as the reason for expansion.
Technical Setup Points to Key Levels
The short-term path for SOL depends on whether retail confidence returns. A retracement toward $218 to $210 would test a fair value gap on the four-hour chart. This would also retest the 200-period exponential moving average.
The liquidation heatmap shows a dense liquidity cluster of over $200 million between $220 and $200. This zone could act as a price magnet. A correction into this range could maintain bullish market structure.
On the upside, a push above $245 to $250 would signal strength. This could drive SOL toward its all-time highs near $290.
The lack of aggressive retail leverage reduces downside risk from cascading liquidations. CME open interest growth anchored by institutions suggests any correction may be shallow.
Solana approaches the apex of a six-month ascending wedge pattern. The RSI climbed above the neutral line at 55 from recent oversold conditions. The MACD histogram mounted a golden cross above the signal line.
Psychological resistance sits around $335 today. The key threshold for a breakout sits around $300, Solana’s early-year high. Flipping this level into support would validate further upside moves.
CME Group’s expansion places Solana among the first altcoins to receive exposure to the world’s largest derivatives market beyond traditional U.S. trading hours in early 2026.
