Key Takeaways
- CME Group is launching Solana futures on March 17 with micro and larger-sized contracts.
- The launch of SOL futures reflects increasing demand for regulated cryptocurrency products.
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CME Group, the world’s leading derivatives marketplace, announced today it will debut Solana (SOL) futures on March 17, pending regulatory approval. The move confirms in part information from an earlier leak on the exchange’s staging website, which suggested XRP and Solana futures would launch on Feb. 10.
At the time, CME clarified that the leaked information was an error and no decisions had been made regarding XRP or SOL futures.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, stated in today’s announcement that the planned launch is driven by increasing client demand for regulated crypto products to manage price risk. The SOL futures contracts are designed to provide capital-efficient tools for investment and hedge strategies.
The exchange will offer two contract sizes—the micro-sized contract (25 SOL) and the larger-sized contract (500 SOL), catering to different trader needs.
The contracts will be cash-settled based on the CME CF Solana-Dollar Reference Rate, calculated daily at 4:00 p.m. London time. The new offering joins CME’s existing crypto product suite, which includes Bitcoin and Ether futures and options futures.
CME’s announcement comes after Coinbase Derivatives launched CFTC-regulated Solana futures contracts earlier this month. These futures are seen as an key step towards potential approval of Solana ETFs in the future.
“The launch of SOL futures is a significant milestone in the ongoing maturation of the cryptocurrency market,” said Teddy Fusaro, President of Bitwise Asset Management. Bitwise is one of the fund managers seeking SEC approval to launch a spot Solana ETF in the US.
“This announcement underscores CME Group’s commitment to and leadership in offering institutional investors and active traders advanced tools for trading and risk management,” Fusaro added.
The SEC has received spot Solana ETF applications from multiple firms including 21Shares, Bitwise, Canary, and VanEck.
Volatility Shares filed with the SEC last December for three Solana futures ETFs. Two of their proposed funds—the Volatility Shares 2x Solana ETF and the Volatility Shares Solana ETF—are now listed on the DTCC.
The DTCC listing means these ETFs are eligible for clearing and settlement through its central infrastructure, though this does not constitute SEC approval of the investment products.
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