CME Group to Launch Solana (SOL) Futures on March 17
The CME Group, renowned as the largest derivatives marketplace globally, has announced an upcoming launch of Solana (SOL) futures scheduled for March 17. This strategic move aims to enhance its array of cryptocurrency derivatives, as detailed in a press release issued on Friday. These new futures contracts, which are subject to regulatory review, will empower traders to effectively manage price risk associated with SOL through two distinct contract sizes: 25 SOL and 500 SOL.
“With the introduction of our new SOL futures contracts, we are addressing the growing client demand for a wider range of regulated products,” stated Giovanni Vicioso, who serves as CME Group’s Global Head of Cryptocurrency Products. This initiative signifies CME’s commitment to catering to the evolving needs of market participants as interest in digital assets continues to surge.
The SOL futures contracts will be cash-settled, utilizing the CME CF Solana-Dollar Reference Rate, which meticulously tracks the price of SOL daily at 4:00 p.m. London time. This addition follows CME’s existing offerings of bitcoin and ether futures, which have recently witnessed a remarkable increase in trading activity. The firm has reported an average daily volume of 202,000 contracts this year, marking a significant 73% rise compared to 2024.
Industry experts regard this development as a pivotal step toward enhancing institutional adoption of cryptocurrencies. Teddy Fusaro, the president of Bitwise Asset Management, emphasized that CME’s cryptocurrency derivatives have been instrumental in paving the way for regulated financial products, including Exchange-Traded Funds (ETFs). Kyle Samani, co-founder of Multicoin Capital, further noted that such products equip sophisticated investors with additional tools for managing risk and exposure in the dynamic crypto market.
As Solana continues to gain traction among developers and investors alike, the introduction of SOL futures underscores the increasing demand for regulated trading products in the cryptocurrency sector. This development could also potentially facilitate the approval of Solana-based exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC). “CME’s decision to list SOL contracts today significantly enhances the likelihood of corresponding spot ETF applications receiving approval in the near future,” remarked Sui Chung, CEO of CF Benchmarks. “While determining an exact timeline for approval is challenging, it is likely that the SEC will seek several months of trading data on the CME to ensure the futures correlate with the spot market before considering ETF applications for SOL.”
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