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CME Group has unveiled plans to launch Solana (SOL) futures on March 17 enhancing its cryptocurrency derivatives portfolio. This decision follows an earlier leak suggesting the introduction of XRP and Solana futures which was later clarified as an error. The upcoming SOL futures will meet growing client demand providing a regulated avenue to manage cryptocurrency price risks.
Giovanni Vicioso the Global Head of Cryptocurrency Products at CME stated that the new contracts will be cash-settled based on the CME CF Solana-Dollar Reference Rate calculated daily. This addition bolsters CME’s robust crypto product suite that already includes Bitcoin and Ether futures.
Teddy Fusaro of Bitwise Asset Management remarked that the introduction of SOL futures marks a significant step in the cryptocurrency market’s maturation highlighting CME’s leadership in the space. Kyle Samani of Multicoin Capital emphasized the importance of advanced trading tools that meet the needs of sophisticated investors in a maturing digital asset market.
