The monetary providers titan CME Group says it’s launching new futures contracts primarily based on the sensible contract platform Solana (SOL) in March.
In a brand new press release, the CME Group publicizes that will probably be rolling out two Solana-based futures contract choices on March seventeenth – a micro-sized one value 25 SOL and a macro-sized contract value 500 SOL.
Nonetheless, the agency notes that the launch of the merchandise continues to be pending regulatory overview.
In accordance with Giovanni Vicioso, CME’s international head of crypto merchandise, the rollout of the contracts is going on attributable to burgeoning consumer demand for regulated merchandise primarily based on digital belongings. As acknowledged by Vicioso,
“With the launch of our new SOL futures contracts, we’re responding to rising consumer demand for a broader set of regulated merchandise to handle cryptocurrency worth threat.
As Solana continues to evolve into the platform of alternative for builders and traders, these new futures contracts will present a capital-efficient software to help their funding and hedging methods.”
Solana contracts will be a part of Bitcoin (BTC) and Ethereum (ETH) futures within the firm’s arsenal of spinoff merchandise. In accordance with earlier reviews, the agency first launched BTC futures in 2020 and Ethereum futures in 2022.
The year-to-date buying and selling highlights of BTC and ETH futures embody a 73% year-over-year improve within the common every day quantity of contracts and a 55% year-over-year improve within the common open curiosity of contracts.
Solana is buying and selling for $144 at time of writing, a 4.7% improve over the past 24 hours.
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