- CME Group has launched CFTC-regulated options trading for Solana and XRP, which were previously limited to futures.
- The new options are physically settled into the underlying futures and offered in standard and micro sizes with daily, monthly, and quarterly expirations.
- The move broadens regulated instruments for institutions, following strong demand for both cryptocurrencies.
CME Group, the world’s largest derivatives marketplace, has opened trading on options for Solana (SOL) and XRP, regulated by the U.S. Commodity Futures Trading Commission (CFTC).
According to CME, all contracts are physically settled into the underlying futures, offered in standard and micro sizes, with daily, monthly, and quarterly expirations. The listings align SOL and XRP with Bitcoin and Ethereum, which already have options on CME. Previously, SOL and XRP were limited to futures on the venue.
With the deep liquidity we’ve built in our Solana and XRP futures markets, these new options provide traders with additional tools to further enhance their growing cryptocurrency investment and hedging strategies. We are pleased with the early support we’ve seen from a wide range of clients for these new contracts.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group.Related: $225B Giant Hargreaves Lansdown Says Bitcoin Too Risky for Investors
Solana and XRP Options Arrive on CME
Since the March launch of Solana futures, more than 540,000 contracts have traded, representing US$22.3 billion (AU$34.57 billion) in notional, CME said. XRP futures, live since May, have seen about 370,000 contracts and US$16.2 billion (AU$25.11 billion) in notional.
The move follows CME’s September announcement of plans to expand options coverage and comes after a US$1 trillion (AU$1.55 trillion) crypto market drawdown. The additions broaden regulated instruments for institutions active in large-cap altcoins.
This year has seen the birth of many XRP-based institutional investment products, including the recent launch of the REX-Osprey XRP ETF, which will hold XRP directly while allocating 40% of its assets to other XRP ETFs.
Many institutions have filed for a spot Solana ETF, including 21Shares, VanEck, and Bitwise. However, the regulatory landscape has been disrupted by the US government shutdown (and it remains as such), hence all work from the SEC is halted until further notice.
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