CME Group (CME) is doubling down on crypto derivatives. The world’s largest derivatives marketplace announced it will launch Solana (SOL-USD) futures on March 17, pending regulatory approval. This move adds another major asset to its crypto suite, which already includes Bitcoin and Ethereum futures.
“With the launch of our new SOL futures contracts, we are responding to increasing client demand for a broader set of regulated products to manage cryptocurrency price risk,” said Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products.
Solana Futures Offer Institutional Trading Tools
The new Solana futures will be cash-settled and based on the CME CF Solana-Dollar Reference Rate, which tracks SOL’s price daily at 4:00 p.m. London time. Traders will have two contract size options: a smaller 25 SOL contract and a larger 500 SOL contract.
This is a big deal for institutional investors. “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. He added that CME Group has been instrumental in legitimizing crypto as an asset class through its regulated financial products.
Rising Demand Fuels CME’s Crypto Expansion
CME’s decision to introduce SOL futures comes amid explosive growth in crypto derivatives trading. The firm reported an average daily volume of 202,000 contracts this year, up 73% from 2024. Open interest has also jumped 55% year-over-year, with over 11,300 unique accounts trading.
According to Kyle Samani, Co-Founder and Managing Partner at Multicoin Capital, “As the digital asset market matures and demand continues to grow, sophisticated investors need better ways to get exposure and manage volatility. CME Group’s new crypto derivatives provide just that.”
Retail and Institutional Traders Gain New Opportunities
It’s not just institutions that stand to benefit. “The new SOL futures contracts are further examples of CME Group innovating in the retail crypto trading space for the benefit of customers,” said Elad Even-Chen, Group CFO of Plus500. These contracts will give retail traders more flexibility in managing their portfolios with diversified exposure to crypto assets.
As a result of the news, SOL was up 4.22% today. At the time of writing, SOL is sitting at $143.41.
