The largest regulated derivatives exchange, CME Group, plans to launch Solana-based futures on March 17, pending regulatory approval.
The new instruments will be available in two formats:
- micro contracts — based on 25 SOL;
- larger contracts — for 500 SOL.
“The launch of SOL futures is a response to growing demand from clients seeking to hedge risks with regulated instruments,” noted Giovanni Vicioso, head of cryptocurrency products at CME Group.
According to him, Solana continues to strengthen its position as a popular platform among developers and investors, and such derivatives will become a capital-efficient tool for risk management.
Some market experts have expressed the view that the upcoming launch of new instruments is a precursor to an ETF.
“CME’s decision to add SOL contracts significantly increases the likelihood that corresponding spot exchange-traded funds will receive approval in the foreseeable future,” noted Sui Chung, head of CF Benchmarks.
He stated that the SEC traditionally considers the presence of a regulated futures market as a key condition for approving spot ETFs. This allows for the identification of potential market manipulators and reduces risks for investors. However, before making a final decision, the regulator is likely to want to observe trading activity on CME for several months.
At the time of writing, SOL is trading around $143. Its price has increased by 13.7% over the past day, according to CoinGecko.
Back in January, information about XRP and Solana-based futures appeared on a CME subdomain.