CHICAGO, Feb. 28, 2025 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced plans to launch Solana (SOL) futures on March 17, pending regulatory review. Market participants will have the choice to trade both a micro-sized contract (25 SOL) and a larger-sized contract (500 SOL).
"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, Global Head of Cryptocurrency Products at CME Group. "As Solana continues to evolve into the platform of choice for developers and investors, these new futures contracts will provide a capital-efficient tool to support their investment and hedging strategies."
CME Group SOL futures will be cash-settled and based on the CME CF Solana-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of SOL and is calculated daily at 4:00 p.m. London time.
SOL futures will join the company's crypto product suite that includes Bitcoin and Ether futures and options futures.. Year-to-date trading highlights include:
- Average daily volume of 202,000 contracts, up 73% year-over-year
- Average open interest of 243,600 contracts, up 55% year-over-year
- More than 11,300 unique accounts trading
"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, Inc. "This announcement underscores CME Group's commitment to and leadership in offering institutional investors and active traders advanced tools for trading and risk management. With the introduction of Bitcoin and Ether futures, CME Group paved the way for the broader institutionalization of crypto as an asset class and set the stage for more regulated financial products such as ETFs to enter the market. The addition of these new contracts further demonstrates CME Group's leadership and its continued role in shaping the evolution of this dynamic asset class."
"Multicoin Capital applauds CME Group's continued innovation in the digital asset space and is proud to support the launch of their SOL derivatives offering," said Kyle Samani, Co-Founder and Managing Partner, 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, giving investors increased flexibility with less upfront capital."
"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 bring a new dimension for retail futures traders and will help manage their cryptocurrency portfolios by allowing them to further diversify their holdings. We are proud to be supporting this latest product launch, which is based on scalable, well-established and trusted cryptocurrencies."
SOL futures will be listed on and subject to the rules of CME. For more information on these products, please visit: www.cmegroup.com/sol.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
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SOURCE CME Group