• On February 28, CME introduced that By-product Market is scheduled to launch Solana (SOL) futures on March seventeenth.
• The itemizing shall be topic to regulatory approval, the corporate added in a press launch.

CME Group introduced that it’ll launch Solana (Sol) Futures on March seventeenth.

The Derivatives Market has revealed plans for a press launch on February twenty eighth. This notes that the launch of Sol Futures merchandise is topic to regulatory opinions. If accepted, CME will supply each a micro-sized contract of 25 SOL and a big contract of 500 SOL.

“We’re dedicated to offering a spread of companies to our prospects,” mentioned Giovanni Vicioso, international head of cryptocurrency merchandise at CME Group.

Sol Futures Vital Milestones

In accordance with the CME Group, Sol Futures merchandise are cached and monitor the CME CF Solana-Greenback reference fee. This refers back to the US greenback worth of Solana’s native token.

With the approaching launch of Sol Futures, CME is poised so as to add it to its suite of cryptographic merchandise. At the moment, this consists of Bitcoin and etheric futures and elective futures.

“The launch of Sol Futures is a key milestone within the continued maturation of the cryptocurrency market,” mentioned Bitwise President Teddy Fusalo.

Market members see the launch of the Solana Futures contract platform as step one in direction of the regulatory nod for the Solana Spot Alternate-Traded fund. At the moment, the Securities and Alternate Fee is acknowledging a number of proposed rule adjustments seeking Spot Sol ETF listings and transaction approval.

Fusalo added:

“With the introduction of Bitcoin and etheric futures, the CME Group paved the way in which for broader institutionalization of encryption as an asset class, setting the stage for extra regulated monetary merchandise comparable to ETFs and coming into the market.”