CME Group Unveils Solana Futures: A New Era for Crypto Hedging
1min read The derivatives giant cme group has announced plans to introduce new futures contracts based on the smart contract platform Solana (SOL) this month. The company will roll out two Solana-based futures contract options on March 17th – a micro-sized one worth 25 SOL and a macro-sized contract worth 500 SOL.
According to Giovanni Vicioso, CME’s global head of crypto products, the launch of the contracts is a response to increasing client demand for regulated products based on digital assets. As Solana continues to gain traction among developers and investors, these new futures contracts will provide a capital-efficient tool to support their investment and hedging strategies.
Solana contracts will join Bitcoin (BTC) and Ethereum (ETH) futures in the company’s arsenal of derivative products. The firm first launched BTC futures in 2020 and Ethereum futures in 2022. The trading highlights of BTC and ETH futures include a 73% year-over-year increase in the average daily volume of contracts and a 55% year-over-year increase in the average open interest of contracts.
At the time of writing, Solana is trading for $144, a 4.7% increase during the last 24 hours.
