XRP and Solana Options Trading to Start on CME Group
CME Group will launch options trading for XRP and Solana (SOL) futures on October 13. The new contracts will include both standard and micro sizes. Investors can choose from daily, monthly, and quarterly expiration dates.
Fast Adoption of XRP and Solana Futures
CME introduced Solana futures in March and XRP futures in May 2023. These products offer crypto exposure beyond Bitcoin and Ethereum. Since their launch, over 540,000 Solana contracts worth $22.3 billion and 370,000 XRP contracts worth $16.2 billion have traded on CME.
In August, these futures reached record daily trading volumes and open interest. This makes them some of the fastest adopted futures products on the exchange.
Industry Experts Comment on New Options
Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, said the options launch builds on strong growth and liquidity in Solana and XRP futures. Roman Makarov, Head of Cumberland options trading at DRW, noted that the new options show growing demand for crypto exposure beyond Bitcoin and Ethereum.
CME is working with crypto prime broker FalconX to boost demand. Joshua Lim, FalconX Global Co-Head of Markets, said institutional interest in hedging tools for Solana and XRP is rising due to growth in digital asset treasuries.
The launch comes as the SEC considers approving US spot ETFs for XRP and Solana. CME’s regulated futures contracts often influence the SEC’s decisions on ETF approvals. The SEC is also working on new rules for crypto ETFs, which may require futures trading on regulated exchanges before approval.
