Solana futures could be released on 17 March, subject to regulatory approval.
This time it’s real
The announcement from CME Group was received and I triple checked its validity.
You may recall that last month a CME Group website beta was leaked. A header at the top said, “Introducing SOL and XRP futures.” The release of the film “in error,” At the time, a spokesperson confirmed that no decision was made about such products.
Now, though, the derivatives marketplace is officially moving ahead with cash-settled SOL futures — to be available via a micro-sized contract (25 SOL), and a larger one (500 SOL).
What is the significance of this?
This type of investment product is designed to provide sophisticated investors with a better way to manage volatility in a growing market. Institutions and active traders can better manage the volatility of a market that is growing. SOL would allow those who are unable to directly hold SOL to access it via a regulated products.
But beyond that, it extends a tool already available for bitcoin and ether to another asset — possibly setting the stage for US solana ETFs.
CME Group introduced bitcoin and ether Futures in 2017, and respectively, 2021. The CME Group launched bitcoin futures in 2017 and ether futures in 2021, respectively.
The SEC has been questioned by industry watchers about the timing of future spot crypto ETFs. They point out that the SEC had previously requested a fully regulated and supervised futures market.
Nate Geraci, president of ETF Store wrote on X today that the solana-futures launch is planned. “definitely bodes well for SOL ETF prospects.”
CME’s spokesperson today told me: “We do not comment on our product pipeline.”
A representative from the firm said the company was also looking to expand its BTC derivatives and ETH derivatives.
Year to date, average daily volume for CME’s BTC and ETH futures/options is 202,000 contracts — up 73% from a year ago. The average open interest has increased by 55% in the past year (243 600 contracts).
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
