CME Group to Launch Solana (SOL) Futures on March 17

CME Group, the world’s biggest derivatives marketplace, announced that it’s launching Solana (SOL) futures connected March 17. 

What this means needfully is that traders and investors volition soon beryllium capable to champion connected the aboriginal terms of Solana but without needing to bargain the currency, according to the press release.

This inactive awaits regulatory approval, but if everything goes well, it volition complement CME’s existent offering, which already includes Bitcoin and Etherum futures.

Meanwhile, these caller SOL futures volition beryllium disposable successful 2 sizes: a micro declaration of 25 SOL and a larger declaration of 500 SOL. These contracts volition beryllium cash-settled, truthful the traders volition settee their gains oregon losses successful U.S dollars alternatively than existent Solana tokens. 

The worth of SOL volition beryllium based connected the CME CF Solana-Dollar Reference Rate, which calculates the worth of Solana erstwhile regular astatine 4:00 p.m. London time.

Giovanni Vicioso, Global Head of Cryptocurrency Products astatine CME Group, made a connection astir the launch:

“With the motorboat of our caller SOL futures contracts, we are responding to expanding lawsuit request for a broader acceptable of regulated products to negociate cryptocurrency terms risk.”

He besides added that since the Solana ecosystem is expanding, these futures contracts volition assistance traders put and hedge risks successful a amended manner.

The announcement comes connected the heels of different large investors showing involvement successful crypto. CME Group has reported an mean regular measurement for its crypto products expanding by 73% this twelvemonth to 202,000 contracts traded per day. Open involvement is besides up 55%, with implicit 11,300 unsocial accounts actively trading.

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