CME starts on March 17th Solana (Sol) -Futures

• The CME announced on February 28 that the derivative market is planning to launch the futures of Solana (Sol) on March 17th.
• The list is subject to the official approval, the company added in a press release.

The CME Group has announced that it will introduce Solana (Sol) futures on March 17th.

The derivative market revealed the plans in a press release On February 28, it is found that the introduction of the SOLFUTURE's product is subject to an official review. In the event of approval, CME offers both a microgross contract of 25 Sol and a larger contract of 500 Sol.

"With the introduction of our new Solfutures contracts, we are responding to the increasing customer demand for a broader sentence of regulated products for the management of prices risks of cryptocurrencies," said Giovanni Vicioso, Global Head of Cryptocurrency products at the CME Group.

sol futures a key milestone

According to the CME group, the SOL FUTURESS product becomes cash-settled and follow the CME CF Solana dollar reference rate. This refers to the US dollar price for Solanas token.

With the upcoming introduction of Sol -Futures, CME is ready to expand his suite of crypto products. This currently includes Bitcoin and Ether Futures as well as options -futures.

"The start of Sol Futures is an important milestone in the continuous maturation of the cryptocurrency market," said Teddy Fusaro, President of Bitwise.

The market participants see the introduction of Solana Futures contracts by the platform as the first steps towards a regulatory nod of the funds traded by Solana Spot Exchange. Currently, the US Securities and Exchange Commission has recognized several proposed changes in the rules to apply for approval for listing and trading Spot Sol ETFs.

fusaro added:

"With the introduction of Bitcoin and Ether -Futures, the CME group paved the way for the broader institutionalization of crypto as an investment class and placed the prerequisites for more regulated financial products such as ETFs for entering the market."