Planned CME solana futures could boost ETF approval odds

CME’s planned product stands to give sophisticated investors a better way to manage volatility in a growing market

article-image

Akif CUBUK/Shutterstock modified by Blockworks

share


This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.


Solana futures are coming March 17, pending regulatory review. 

For real this time.  

When CME Group’s announcement came through, I made sure to triple-check its validity. 

If you recall last month, a beta page from CME Group’s website surfaced; a header on top read, “Introducing SOL and XRP futures.” That was released “in error,” a spokesperson clarified at the time; no decision had been made on such products.

Now, though, the derivatives marketplace is officially moving ahead with cash-settled SOL futures — to be available via a micro-sized contract (25 SOL), and a larger one (500 SOL).

Why does this matter, exactly?

The thought is this type of product gives sophisticated investors (i.e. institutions and active traders) a better way to manage volatility within a growing market. Those unable to hold SOL directly would be able to gain access via a regulated product.

But beyond that, it extends a tool already available for bitcoin and ether to another asset — possibly setting the stage for US solana ETFs. 

Loading Tweet..

CME Group launched bitcoin futures and ether futures in 2017 and 2021, respectively. These helped institutionalize crypto as an asset class prior to the US spot bitcoin and ether ETF launches last year.

Industry watchers have questioned the timeline around further spot crypto ETF approvals by the SEC, pointing out the agency has previously wanted to first see a regulated futures market. 

The ETF Store president Nate Geraci wrote this morning on X that the planned solana futures launch “definitely bodes well for SOL ETF prospects.”

As for whether XRP futures are next (given the aforementioned beta page), a CME spokesperson told me today: “We do not comment on our product pipeline.”

In addition to SOL futures, the rep added, the company is focused on growing its existing BTC and ETH derivatives suite. 

Year to date, average daily volume for CME’s BTC and ETH futures/options is 202,000 contracts — up 73% from a year ago. Average open interest (243,600 contracts) has jumped 55% year over year.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

Togo activist Farida Nabourema is fighting back with Bitcoin

article-image

Roshan Robert told Blockworks that OKX brought him on back in September to plan out its US expansion

article-image

Could we stop using BTC to amplify our short-term risks — and start using it to hedge our long-term ones?

article-image

Sol Strategies will be the tokenized stock platform’s first listing

article-image

Craig Fuller, CEO and founder of FreightWaves, breaks down how tariffs are and will impact shipping and inventories

article-image

This limited-edition run of sparkling water is more for existing traders than crypto newcomers, but mainstream distribution is part of the plan.