The financial services titan CME Group says it’s launching new futures contracts based on the smart contract platform Solana (SOL) in March.
In a new press release, the CME Group announces that it will be rolling out two Solana-based futures contract options on March 17th – a micro-sized one worth 25 SOL and a macro-sized contract worth 500 SOL.
However, the firm notes that the launch of the products is still pending regulatory review.
According to Giovanni Vicioso, CME’s global head of crypto products, the rollout of the contracts is happening due to burgeoning client demand for regulated products based on digital assets. As stated by Vicioso,
“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.
As Solana continues to evolve into the platform of choice for developers and investors, these new futures contracts will provide a capital-efficient tool to support their investment and hedging strategies.”
Solana contracts will join Bitcoin (BTC) and Ethereum (ETH) futures in the company’s arsenal of derivative products. According to previous reports, the firm first launched BTC futures in 2020 and Ethereum futures in 2022.
The year-to-date trading highlights of BTC and ETH futures include a 73% year-over-year increase in the average daily volume of contracts and a 55% year-over-year increase in the average open interest of contracts.
Solana is trading for $144 at time of writing, a 4.7% increase during the last 24 hours.
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