CME Group Launches SOL Futures on March 17 – SOL Price Spiked Over 4%

Key Points

• CME Group is expanding its crypto derivatives offerings with the launch of SOL futures.
• The announcement comes ahead of the next SOL $1.54 billion unlock.

According to the latest reports, CME Group will expand its crypto derivatives offerings with the launch of Solana (SOL) futures. CME is the world’s leading derivatives marketplace.

CME Launches SOL Futures Next Month

Official reports reveal that CME will launch SOl futures on March 17, pending regulatory review. Market participants will be able to trade the following:

• A micro-sized contract (25 SOL)
• A larger-sized contract (500 SOL)

Giovanni Vicioso, Global Head of Crypto Products at CME Group said that with the launch of SOL futures contracts, the firm is responding to increasing client demand for a broader set of regulated products to manage crypto price risks.

He explained that, as Solana continues to evolve into the platform of choice for devs and investors, these new futures contracts will provide a capital-efficient tool to support investments and hedging strategies.

CME SOL Futures Will Be Cash-Settled

The CME Group SOL futures will be:

• Cash-settled
• Based on the CME CF Solana-Dollar Reference Rate (a once-a-day reference rate of the USD price of SOL, calculated daily)

SOL futures will join CME’s crypto futures which include BTC, ETH futures, and options futures.

A Significant Milestone in Crypto Market Maturation

Teddy Fusaro, Bitwise President, said that the launch of SOL futures is an important milestone in the crypto maturation process, highlighting CME’s commitment to leadership in offering institutional investors and active traders advanced trading tools and risk management.

When CME introduced BTC and ETH futures, it paved the way for the broader institutionalization of crypto as an asset class, seeing the stage for more regulated financial products like ETFs.

Multicoin Capital also applauded CME’s initiative, saying that the team supports the launch of SOL futures. Kyle Samani, co-founder and Managing Partner at Multicoin Capital said that as the crypto market matures and demands continue to grow, sophisticated investors require better ways to get exposure and manage volatility.

The futures contracts for SOL will bring a new dimension for retail futures traders, helping manage portfolios and diversifying holdings, according to the official press release .

SOL Price Surges

Following this announcement, SOL price spiked. At the moment of writing this article, SOL is trading at over $143, up by more than 4% today.

Before the announcement, SOL was trading at around $133 and the coin’s price spiked, reaching a market cap of $71.44 billion.

SOL price surge comes amidst a downward general crypto market that saw losses of around 4% today.

Also, it’s important to note that on March 1, SOL will see an almost $1.6 billion token unlock, potentially bringing volatility for the token.