CME Group to Launch Solana (SOL) Futures on March 17

CME Group, a global leader in derivatives markets, announced plans to introduce Solana (SOL) futures on March 17, pending regulatory approval. The new contracts will include a smaller 25 SOL contract and a larger 500 SOL contract, offering traders flexible options to manage cryptocurrency price risk.

Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, stated that the move responds to increasing demand for regulated crypto derivatives. With Solana’s rising popularity among developers and investors, these futures contracts will provide a capital-efficient tool for investment and risk management.

The SOL futures will be cash-settled based on the CME CF Solana-Dollar Reference Rate, which determines SOL’s U.S. dollar price daily at 4:00 p.m. London time. These contracts will join CME’s growing crypto product suite, which already includes Bitcoin and Ethereum futures and options.

CME Group’s crypto derivatives market has seen significant growth in 2024, with an average daily volume of 202,000 contracts, up 73% from last year, and an average open interest of 243,600 contracts, marking a 55% increase. Over 11,300 unique accounts are actively trading.

Industry leaders see the SOL futures launch as a milestone in crypto market evolution. Teddy Fusaro, President of Bitwise Asset Management, believes this step reinforces CME’s role in institutionalizing digital assets. Kyle Samani, Co-Founder of Multicoin Capital, highlights the increasing need for advanced tools to manage volatility. Elad Even-Chen, Group CFO of Plus500, expects these contracts to enhance retail futures trading.

As Solana adoption grows, CME Group’s SOL futures will provide traders with new opportunities for diversification and risk management, further strengthening institutional interest in crypto assets.