Coinbase Derivatives Files for Solana and Hedera Futures
In a significant move within the cryptocurrency landscape, Coinbase Derivatives, a subsidiary of the well-known cryptocurrency exchange, has officially submitted documentation to the Commodity Futures Trading Commission (CFTC) to list futures for Solana (SOL) and Hedera (HBAR). This filing signals Coinbase’s intent to expand its offerings in the derivatives market.
According to the submitted filing, the exchange aims to launch these new futures contracts on February 18. The contracts will be cash-settled on a monthly basis, providing traders with a flexible option to engage with these cryptocurrencies. For the Solana futures, the contract size is proposed to be 100 SOL, which is currently valued at approximately $24,000 if the proposal receives approval. Additionally, there will be a “nano” version of Solana contracts available, sized at 5 SOL each.
On the other hand, the Hedera futures are proposed to be sized at 5,000 tokens. This strategic move by Coinbase comes in the wake of increased activity in the crypto sector, as various market players have been exploring new product launches, especially after the recent inauguration of a crypto-friendly president, Donald Trump.
Notably, just last week, the futures and options exchange CME unintentionally revealed the futures page for XRP and SOL on their staging subdomain. However, CME clarified to CoinDesk that the leak was merely an error and emphasized that no decision has been made regarding the potential launch of futures for either SOL or XRP.
