CME Group to Launch Solana Futures Contracts on March 17
Solana (https://holder.io/coins/sol/) ranks as the sixth-largest cryptocurrency with a market cap of $71.90 billion. Recent investor sentiment has turned bullish following the announcement of Solana Futures contracts by CME Group.
CME Group to Launch Solana (SOL) Futures
- CME Group plans to list Solana Futures on March 17.
- Contracts will allow risk management in sizes of 25 and 500 SOL tokens.
- The contracts are pending regulatory review and will be cash-settled using the CME Group's CF Solana dollar reference rate, tracking price daily at 4pm London time.
- Giovanni Vickyosso, CME Global Head of Cryptocurrency Products, stated this launch responds to increasing client demand.
CME’s Growing Crypto Derivatives Market
- CME already offers futures for Bitcoin and Ethereum.
- Average daily volume of CME crypto contracts reached 202,000 this year, up 73% from last year.
Rising Speculations of Solana ETF Approval
- The new futures contract may lead to increased chances of Solana ETF approval by the SEC.
- Teddy Fusaro of Bitwise Asset Management emphasized that CME's derivatives support regulated financial products, including ETFs.
- A pro-crypto regulatory environment under Donald Trump could expedite the process.
Following the CME announcement, the SOL price surged nearly 7.86%, rising from $133 to $143 within four hours.
Photo: CoinMarketCap