CME Group Rumored to Launch Solana (SOL) and XRP Futures Contracts
There has been speculation that CME Group is gearing up to introduce futures contracts for Solana (SOL) and XRP, as per reports circulating on social media on Jan. 22.
Despite the rumors, CME Group has not made an official statement regarding the matter and has neither confirmed nor denied the authenticity of the images that have been shared online, leading to widespread conjecture within the crypto community.
The initial information surfaced when a user known as Summers posted a screenshot of what appeared to be a CME page used for testing. This page, which is currently inaccessible, is slated for a pre-launch on Feb. 10.
Following this, Alex Thorn, the head of research at Galaxy Digital, shared additional images suggesting that CME would be offering futures and micro futures contracts for both Solana and XRP, with all contracts settled in cash.
The Solana futures contract is said to be for 500 SOL, while the micro futures contract is for 25 SOL. On the other hand, the XRP futures contract is reportedly sized at 50,000 XRP, with a micro version available at 2,500 XRP.
Bloomberg ETF analyst James Seyffart expressed caution, suggesting that the page could potentially be a fake. However, Seyffart also acknowledged that futures contracts for SOL and XRP are logical and largely expected within the industry.
Moreover, Bloomberg senior ETF analyst Eric Balchunas stated his anticipation for an exchange-traded fund (ETF) tracking SOL futures to be launched as early as mid-March. He also questioned the demand for such a product, considering that a spot SOL ETF is likely on the horizon.
In the broader context of the US market, there has been a surge in crypto-related ETF filings. Seyffart highlighted that there are currently 33 ETFs, filed by 13 different issuers, awaiting approval by the US Securities and Exchange Commission (SEC).
Notably, Rex Shares recently filed for seven spot ETFs, three of which are tied to memecoins like Official Trump (TRUMP), Dogecoin (DOGE), and Bonk (BONK). This move led Balchunas to describe the situation as “surreal.”
While Bloomberg ETF analysts predicted a wave of crypto ETF filings this year, the inclusion of memecoin-indexed spot funds was not part of their initial projections.
In response to the influx of new ETF applications, Matthew Sigel, the head of digital assets research at VanEck, called on the SEC to revert to a “first-come, first-served” approach for ETF approvals.
As the crypto market continues to evolve, the potential introduction of futures contracts for Solana and XRP by CME Group could signal further mainstream adoption of digital assets within traditional financial markets. Stay tuned for further updates on this developing story.