In a significant development for the cryptocurrency market, the President of the ETF Store, Nate Geraci, recently announced via social media that the CME Group is set to introduce cash-settled Solana (SOL) futures on March 17th. This initiative is expected to positively impact the SOL ETF application, further contributing to the growing interest in futures trading within the crypto space. Prior reports confirm the launch will also include Micro SOL futures, enhancing accessibility for investors.
The upcoming futures contracts will be anchored by the CME CF Solana Dollar Reference Rate, a vital metric that assesses SOL’s price in USD daily at 4:00 PM London time. Notably, while the micro contract will consist of 25 SOL, the larger contract will comprise 500 SOL. This strategic move by the CME Group is indicative of an evolving landscape in cryptocurrency investments, providing traders with more options to hedge and speculate effectively.