Key Takeaways
- CME Group is launching Solana futures on March 17 with micro and larger-sized contracts.
- The launch of SOL futures displays rising demand for regulated cryptocurrency merchandise.
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CME Group, the world’s main derivatives market, introduced right now it can debut Solana (SOL) futures on March 17, topic to regulatory evaluate. The transfer confirms partially data from an earlier leak on the change’s staging web site, which recommended XRP and Solana futures would launch on Feb. 10.
On the time, CME clarified that the leaked data was an error and no choices had been made relating to XRP or SOL futures.
“With the launch of our new SOL futures contracts, we’re responding to rising consumer demand for a broader set of regulated merchandise to handle cryptocurrency value threat,” stated Giovanni Vicioso, International Head of Cryptocurrency Merchandise at CME Group.
The contracts will probably be cash-settled primarily based on the CME CF Solana-Greenback Reference Fee, calculated day by day at 4:00 p.m. London time. The brand new providing joins CME’s present crypto product suite, which incorporates Bitcoin and Ether futures and choices futures.
The corporate’s crypto buying and selling metrics present year-to-date common day by day quantity of 202,000 contracts, up 73% year-over-year, with common open curiosity of 243,600 contracts, up 55% year-over-year. Greater than 11,300 distinctive accounts are at present buying and selling.
“The launch of SOL futures is a big milestone within the ongoing maturation of the cryptocurrency market,” stated Teddy Fusaro, President of Bitwise Asset Administration, Inc. “This announcement underscores CME Group’s dedication to and management in providing institutional traders and lively merchants superior instruments for buying and selling and threat administration.”
Kyle Samani, Co-Founder and Managing Companion of Multicoin Capital, added: “Because the digital asset market matures and demand continues to develop, subtle traders want higher methods to get publicity and handle volatility. CME Group’s new crypto derivatives present simply that, giving traders elevated flexibility with much less upfront capital.”
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