CME Group announced plans to launch Solana (SOL) futures on March 17, pending regulatory review. Traders will have the option to choose between a micro-sized contract (25 SOL) and a larger contract (500 SOL).

Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, highlighted that the new futures respond to growing demand for regulated products to manage cryptocurrency price risk. The contracts will be cash-settled based on the CME CF Solana-Dollar Reference Rate, calculated daily at 4:00 p.m. London time.

SOL futures will join CME Group’s existing crypto products, which include Bitcoin and Ether futures. Year-to-date, CME’s cryptocurrency trading has seen significant growth, with an average daily volume of 202,000 contracts, up 73% year-over-year, and an open interest of 243,600 contracts, up 55%. More than 11,300 unique accounts have traded crypto products.

Teddy Fusaro, President of Bitwise Asset Management, called the launch a milestone in the evolution of the cryptocurrency market, emphasizing CME’s role in institutionalizing crypto trading. Kyle Samani of Multicoin Capital and Elad Even-Chen of Plus500 also praised the move, noting that the new futures provide investors with better tools to manage risk and exposure.

SOL futures will be listed under CME’s rules, and more details are available at www.cmegroup.com/sol. CME Group remains a leader in the derivatives marketplace, offering a wide range of global benchmark products across various asset classes.