CME to launch Solana (SOL) futures on March 17
- The CME announced on Feb. 28 that the derivatives marketplace plans to launch Solana (SOL) futures on March 17.
- Listing is subject to regulatory approval, the company added in a press release.
CME Group has announced that it will roll out Solana (SOL) futures on March 17.
The derivatives marketplace revealed the plans in a press release on Feb. 28, noting that the launch of the SOL futures product is subject to regulatory review. If approved, CME will offer both a micro-sized contract of 25 SOL, and a larger-sized contract of 500 SOL.
With the launch of our new SOL futures contracts, we are responding to increasing client demand for a broader set of regulated products to manage cryptocurrency price risk, said Giovanni Vicioso, global head of cryptocurrency products at CME Group.
SOL futures a key milestone
According to the CME Group, the SOL futures product will be cash-settled and track the CME CF Solana-Dollar Reference Rate. This will reference the US dollar price of Solanas native token.
With the impending launch of SOL futures, CME is poised to add to its suite of crypto products. Currently, this includes Bitcoin and Ether futures as well as options futures.
The launch of SOL futures is a significant milestone in the ongoing maturation of the cryptocurrency market, Teddy Fusaro, president of Bitwise, said.
Market participants see the platforms launch of Solana futures contracts as the initial steps towards a regulatory nod for Solana spot exchange-traded funds. Currently, the US Securities and Exchange Commission has acknowledged multiple proposed rule changes seeking approval for the listing and trading of spot SOL ETFs.
Fusaro added:
With the introduction of Bitcoin and Ether futures, CME Group paved the way for the broader institutionalization of crypto as an asset class and set the stage for more regulated financial products such as ETFs to enter the market.
The post CME to launch Solana (SOL) futures on March 17 appeared first on CoinJournal.
Read more: https://coinjournal.net/news/cme-to-launch-solana-sol-futures-on-march-17/
Text source: CoinJournal: Home
