Chiara Bianchi
CME Group, one of the world’s most influential derivatives exchanges, has announced plans to introduce options on Solana (SOL) and XRP futures starting October 13, pending regulatory approval.
The new offerings will feature both standard and micro-sized contracts, with daily, monthly, and quarterly expirations. According to CME, the initiative is aimed at providing greater flexibility for institutional players and active traders looking to fine-tune their strategies around Solana and XRP exposure.
Futures contracts set a price today for buying or selling an asset at a future date. Options on futures go one step further, giving traders the right—but not the obligation—to execute a buy (call) or sell (put) at a predetermined price before the contract expires. These instruments are powerful tools for hedging risk, controlling exposure, and managing potential profit and loss scenarios with precision.
Record-Breaking Growth in Solana and XRP Futures
Giovanni Vicioso, CME’s global head of crypto products, highlighted that this move comes after remarkable growth in Solana and XRP futures trading volumes.
Since launching in March, CME has recorded over 540,000 Solana futures contracts traded, representing $22.3 billion in notional volume. XRP futures, which debuted in May, have already surpassed 370,000 contracts ($16.2 billion in notional). Both products reached record activity in August, with Solana averaging $437 million and XRP $385 million in daily trading volume.
Rising Institutional Interest
Joshua Lim, co-head of markets at FalconX, emphasized that demand for institutional-grade hedging solutions in Solana and XRP is rapidly climbing as digital asset adoption spreads across treasury management.
He added: “FalconX is proud to collaborate with CME Group to enhance market efficiency and expand derivatives liquidity for our clients across a wider range of crypto assets.”
ETFs on the Horizon
Market participants are also closely watching for the first spot Solana and XRP exchange-traded funds (ETFs). While the U.S. Securities and Exchange Commission (SEC) has delayed multiple crypto ETF applications, analysts anticipate approvals may be imminent.
This week, REX Shares and Osprey Funds are set to launch an XRP ETF that will directly hold XRP, while allocating at least 40% of its assets to other XRP-linked ETFs, signaling growing momentum for regulated investment vehicles tied to these altcoins.
