💥💥CME Group, the world's 🌎largest derivatives marketplace, has announced plans to introduce Solana (SOL) futures contracts on March 17, 2025, pending regulatory approval. 👇
💯💯This move expands CME's cryptocurrency derivatives offerings beyond Bitcoin and Ether, reflecting the growing institutional interest in diversified crypto assets.👇
🚨The Solana futures will be available in two contract sizes: a standard contract for 500 SOL tokens and a micro-sized contract for 25 SOL tokens. Both contracts will be cash-settled based on the CME CF Solana-Dollar Reference Rate, which provides a daily reference rate of the U.S. dollar price of SOL, calculated at 4:00 p.m. London time.
✅✅Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, stated that the launch responds to increasing client demand for a broader set of regulated products to manage cryptocurrency price risk. He noted that as Solana continues to evolve into a platform of choice for developers and investors, these new futures contracts will offer a capital-efficient tool to support their investment and hedging strategies.👇👇
👉👉The introduction of Solana futures is also seen as a potential precursor to the approval of exchange-traded funds (ETFs) tied to Solana. Firms such as VanEck, 21Shares, and Franklin Templeton have filed for SEC approval to launch Solana ETFs. Sui Chung, CEO of CF Benchmarks, mentioned that the presence of a regulated futures market is critical for the SEC to approve spot crypto ETFs, as it helps regulators monitor and prevent market manipulation.👇👇
✔️✔️Following the announcement, Solana's price experienced a notable increase, surging by approximately 17% from around $125 💵to roughly $146💵 on February 28. This surge reflects renewed investor interest and optimism surrounding regulated derivatives for the asset.👇👇
🍀🍀Overall, CME Group's introduction of Solana futures signifies a significant step in the maturation of the cryptocurrency market, providing institutional investors with more tools to manage exposure to digital assets.👇👇
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