CME options on Solana and XRP launched on October 13, 2025, offering CFTC‑regulated, physically settled options tied to SOL, Micro SOL, XRP and Micro XRP futures. The contracts provide daily, monthly and quarterly expiries and are designed to broaden institutional-grade hedging and trading liquidity.
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CFTC‑regulated options on SOL and XRP are now trading, physically settled into corresponding futures.
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Contracts include standard and micro sizes with expiries every business day, monthly and quarterly for flexible exposure.
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Market impact: Solana and XRP futures surpassed $1 billion notional open interest individually; CME reported 335,200 outstanding contracts and $39 billion notional open interest in mid‑September.
CME options on Solana and XRP now trading — CFTC‑regulated, physically settled contracts with micro sizes and daily expiries. Read how this expands institutional hedging and liquidity.
Published: October 13, 2025 · Updated: October 13, 2025 · By COINOTAG
What are CME options on Solana and XRP?
CME options on Solana and XRP are CFTC‑regulated derivatives that give traders the right, not the obligation, to buy or sell SOL and XRP futures at predetermined prices. These options are physically settled into their corresponding futures contracts and are available in both standard and micro contract sizes, enabling broader participation.
How do these options settle and who can trade them?
The new options are physically settled, meaning exercised options convert into the underlying futures position rather than cash settlement. This structure aligns with institutional trading and risk management practices used by professional market makers and asset managers. Eligible participants include regulated institutions and qualified traders operating on CME‑regulated platforms, consistent with clearing and collateral requirements set by the exchange and the CFTC.
CME highlights daily expiries in addition to monthly and quarterly expiries, broadening tactical hedging opportunities for short‑dated exposures. Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, said these contracts “offer a wide range of market participants — from institutions to sophisticated, active, individual traders — additional choice and greater flexibility to manage their exposure to two market‑leading cryptocurrencies.”
Market context and liquidity effects
CME first entered crypto derivatives with Bitcoin futures in 2017 and has since expanded to multiple crypto products. The addition of SOL and XRP options builds on previous introductions of futures and options for Bitcoin and Ethereum. Historically, the exchange’s product expansions have attracted institutional market makers and liquidity providers, which helps tighten bid‑ask spreads and reduce slippage for the underlying tokens.
Notional open interest for CME crypto futures reached a record $39 billion in mid‑September, with 335,200 outstanding contracts reported by the exchange. Standard Solana futures (contract size 500 SOL) crossed $1 billion notional open interest in August after launching earlier in the year; standard XRP futures (contract size 50,000 XRP) reached the same milestone within three months of trading. These figures were provided by CME Group in its market updates.
How does the broader U.S. regulated derivatives market respond?
Regulatory clarity and recent policy initiatives have supported demand for regulated derivative offerings. Several U.S. platforms expanded product sets in 2025: Coinbase introduced Solana futures (including nano sizes) and announced the acquisition of an options exchange; Kraken launched a U.S. derivatives arm; and retail platforms rolled out micro futures for major tokens. CoinMarketCap published data showing global crypto derivatives open interest holding near $4 billion, indicating sizable demand across venues.
CFTC-regulated options on Solana and XRP are now live and trading today 🚀
✅ Seamless integration: Physically settled into the underlying futures contract.
✅ Flexible exposure: Trade larger and micro sizes.
Explore Crypto options contracts ➡️ pic.twitter.com/RF5COIFX98— CME Group (@CMEGroup) October 13, 2025
Market prices reacted to the broader derivatives activity: SOL gained momentum during August and September, rising roughly 60% from prior lows and trading near $194.77 after a 3% intraday uptick at the time of reporting. XRP recovered market capitalization, moving from $2.37 to $2.56 on heavy institutional volume and was up about 3.74% in the most recent 24‑hour window reported.
In parallel, the availability of micro and nano contract sizes across venues—including retail‑facing micro futures—has reduced the minimum capital requirements for active traders to access derivative exposures, potentially increasing participation across both institutional and sophisticated retail segments.
Open interest across crypto futures and perpetual contracts. Source: CoinMarketCap
Frequently Asked Questions
Are CME Solana and XRP options regulated in the United States?
Yes. These options are regulated by the U.S. Commodity Futures Trading Commission (CFTC) and clear through CME Group’s established clearinghouse infrastructure, meaning they follow federal derivatives oversight and established margin and settlement practices.
When did CME start trading options on Solana and XRP?
CME began trading options on Solana and XRP on October 13, 2025. The exchange announced the products as physically settled into the corresponding futures with multiple expiries and contract sizes to accommodate different market participants.
Key Takeaways
- CFTC‑regulated launch: CME’s options for SOL and XRP are officially trading and settle into the underlying futures.
- Product structure: Available in standard and micro sizes with daily, monthly and quarterly expiries to enhance tactical hedging.
- Market impact: Growth in institutional participation and rising open interest supports deeper liquidity and potentially tighter spreads for SOL and XRP.
Conclusion
The launch of CME options on Solana and XRP marks a significant step in expanding regulated crypto derivatives available to institutional and sophisticated traders. With CFTC oversight, physical settlement into futures and a range of contract sizes and expiries, these instruments enhance market participants’ ability to hedge and express views on SOL and XRP. Watch for ongoing liquidity trends and official CME and CFTC updates for operational details and 24/7 trading progress.
