CME Group Set to Introduce Solana Futures Trading on March 17

CME Group, widely recognized as the world’s leading derivatives marketplace, has announced plans to roll out Solana (SOL) futures contracts starting March 17, subject to regulatory approval. This move expands the company’s crypto offerings, providing traders with two contract options: a micro-sized contract equivalent to 25 SOL and a larger contract representing 500 SOL.

Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, emphasized that the decision to introduce Solana futures stems from client interest in managing price risks associated with digital assets. He noted that Solana has emerged as a preferred platform for developers and investors, and these new contracts aim to offer a practical solution for both investment and hedging purposes. The futures will be cash-settled, tied to the CME CF Solana-Dollar Reference Rate, a daily benchmark calculated at 4:00 p.m. London time to reflect SOL’s U.S. dollar value.

This addition complements CME Group’s existing cryptocurrency portfolio, which already includes futures and options tied to Bitcoin and Ethereum. Trading activity in these products has shown steady growth throughout the year, with average daily volume reaching 202,000 contracts, a 73% increase from the previous year, and average open interest climbing to 243,600 contracts, up 55% . Over 11,300 unique accounts have engaged in trading, signaling robust participation across the platform.

Industry Leaders Weigh In on Solana Futures Launch

The introduction of Solana futures has drawn praise from prominent figures in the crypto and financial sectors. Teddy Fusaro, President of Bitwise Asset Management, described the launch as a key step in the maturation of the crypto market. He credited CME Group with playing a pivotal role in legitimizing digital assets for institutional investors through its earlier Bitcoin and Ethereum offerings, which helped pave the way for broader acceptance and the development of regulated financial products like exchange-traded funds. Fusaro views the Solana contracts as a continuation of this leadership, equipping traders with sophisticated tools for risk management.

Kyle Samani, Co-Founder and Managing Partner at Multicoin Capital, echoed this sentiment, applauding CME Group’s ongoing efforts to innovate within the digital asset space. He highlighted the increasing need among sophisticated investors for flexible, capital-efficient ways to gain exposure to cryptocurrencies and manage volatility, suggesting that the new SOL derivatives meet this demand effectively. Similarly, Elad Even-Chen, Group CFO of Plus500, pointed to the benefits for retail traders, noting that the contracts will enable greater diversification within cryptocurrency portfolios while leveraging the reliability of an established platform.

The Solana futures will operate under CME’s regulatory framework and be accessible via the CME Globex platform, which supports futures and options trading across a wide range of asset classes. This includes interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals, reinforcing CME Group’s position as a global leader in derivatives markets. The company also provides fixed income trading through BrokerTec and foreign exchange trading on the EBS platform, alongside clearing services via CME Clearing, one of the world’s top central counterparty providers.