The Chicago Mercantile Exchange (CME) group has confirmed plans to launch Solana (SOL) futures on March 17, pending regulatory review by the Commodity Futures Trading Commission (CFTC). This development marks a significant step for Solana, positioning it among selected cryptocurrencies with futures contracts on the world’s largest derivatives exchange.
The CME Group has announced that market participants will have the option to trade two types of Solana (SOL) futures contracts, Micro-sized contracts representing 25 SOL each, and Larger sized contracts representing 500 SOL each.
These contracts are designed to cater both institutional traders and retail traders. This contracts will offer flexibility in managing cryptocurrency price risk.
Cash-Settled Futures Based on SOL-Dollar Reference Rate
The new SOL futures will be cash-settled and based on the CME CF Solana-Dollar Reference Rate, a once-daily rate calculated at 4:00 pm London time. This will ensure transparent and reliable pricing for traders.
Expansion on CME’s Crypto Product Suite
The addition of Solana future expands CME group’s cryptocurrency derivatives offerings, which already include Bitcoin and Ether futures. Year-to-date highlights for CME’s crypto products include:
- Average daily volume: 202,000 contracts, up 73% year-over-year
- Average open interest: 243,600 contracts, up 55% year-over-year
- Unique accounts trading: More than 11,300 unique accounts trading
Industry Leaders Applauds The Move
Teddy Fusaro, President of Bitwise Asset Management, called the launch a “significant milestone,” emphasizing CME’s role in institutionalizing crypto markets. Kyle Samani, Co-Founder and Managing Partner of Multicoin Capital, added that these derivatives offer “better ways to manage volatility” for sophisticated investors.
Elad Even-Chen, Group CFO of Plus500, highlighted the benefits for retail traders, noting that these contracts allow for greater diversification and portfolio management.
Solana Price Outlook Ahead of Future Launch
At press time, the price of the SOL token stands at $144.86 with a surge of 6.3% in the last 24 hours as per CoinGecko. Analysts believe that the price of the SOL token could reach $158.22 in March 2025. This launch of SOL futures is expected to increase liquidity and institutional interest.
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