CME Group Expands Crypto Suite with Solana Futures

CME Group, the world's largest derivatives marketplace, is expanding its crypto offerings with the launch of Solana (SOL-USD) futures on March 17, pending regulatory approval. This move adds another major asset to its crypto suite, which already includes Bitcoin and Ethereum futures.

Giovanni Vicioso, CME Group's Global Head of Cryptocurrency Products, stated, "With the launch of our new SOL futures contracts, we are responding to increasing client demand for a broader set of regulated products to manage cryptocurrency price risk."

The new Solana futures will be cash-settled and based on the CME CF Solana-Dollar Reference Rate, which tracks SOL's price daily at 4:00 p.m. London time. Traders will have two contract size options: a smaller 25 SOL contract and a larger 500 SOL contract.

Teddy Fusaro, President of Bitwise Asset Management, commented, "The launch of SOL futures is a significant milestone in the ongoing maturation of the cryptocurrency market. CME Group has been instrumental in legitimizing crypto as an asset class through its regulated financial products."

CME's decision to introduce SOL futures comes amid explosive growth in crypto derivatives trading. The firm reported an average daily volume of 202,000 contracts this year, up 73% from 2024. Open interest has also jumped 55% year-over-year, with over 11,300 unique accounts trading.

Kyle Samani, Co-Founder and Managing Partner at Multicoin Capital, noted, "As the digital asset market matures and demand continues to grow, sophisticated investors need better ways to get exposure and manage volatility. CME Group's new crypto derivatives provide just that."

It's not just institutions that stand to benefit. Elad Even-Chen, Group CFO of Plus500, stated, "The new SOL futures contracts are further examples of CME Group innovating in the retail crypto trading space for the benefit of customers. These contracts will give retail traders more flexibility in managing their portfolios with diversified exposure to crypto assets."

As a result of the news, SOL was up 4.22% today.