CME Group to Launch SOL Futures

CME Group has announced plans to launch Solana (SOL) futures in both a micro-sized contract (25 SOL) and a larger-sized contract (500 SOL) on March 17, pending regulatory review.

The new 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 dollar price of SOL and is calculated daily at 4:00 pm London time.

“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,” says 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.”

Teddy Fusaro, president of Bitwise Asset Management, adds, “The launch of SOL futures is a significant milestone in the ongoing maturation of the cryptocurrency market. With the introduction of Bitcoin and Ether futures, CME Group paved the way for the broader institutionalisation of crypto as an asset class and set the stage for more regulated financial products such as ETFs to enter the market.”

Elad Even-Chen, group CFO of Plus500, says, “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.”