CME Group announced on Tuesday that it has started facilitating options trading. Solana and XRP Futures offer traders a new way to speculate on price movements in the United States and manage risk.
The first trade involving options on XRP futures took place on Sunday between market maker Wintermute and crypto asset management company Superstate, CME announced. blog post.
Meanwhile, the first trade involving options on Solana futures took place on Monday between institutional crypto firm Galaxy Digital and crypto trading firm Cumberland DRW, CME added.
Giovanni Vicioso, CME’s global head of crypto products, said in a statement that the debut reflects “a shift in market participants to manage their exposure and pursue new opportunities across a broader range of crypto products.” “We are pleased with the early support we have received from a wide range of clients for these new contracts.”
CME has not yet released information on how much volume Solana and XRP futures options have generated. Website shows that there are currently 5 contracts outstanding for each cryptocurrency. equivalent product Bitcoin and Ethereum The number of outstanding contracts on Tuesday was 12,431 and 37,201, respectively.
decryption has contacted CME for comment.
According to some information, CME posted a record quarter for crypto futures last month. report Published on Monday. The value of outstanding contracts, also known as nominal open interest, reached a record high of $39 billion in mid-September, according to CME.
CME began supporting Solana futures in March and XRP futures in May. In Q3, an average of 4,300 contacts per day switched to Solana futures, compared to 2,100 contacts to XRP, suggesting it was relatively unpopular.
Under previous leadership, the Securities and Exchange Commission suspect While XRP and Solana had claimed to be securities in high-profile litigation, CME’s move further legitimizes their status as commodities under the jurisdiction of the Commodity Futures Trading Commission.
Ethan Ren, head of options at Wintermute, suggested in a statement that CME’s adoption of options on Solana and XRP futures shows the industry continues to mature.
“This launch reflects the increasing sophistication of how market participants manage their exposure and marks a significant expansion of exchange-traded crypto derivatives beyond BTC and ETH,” he said. “We see this as a positive signal for the continued evolution and depth of the crypto options market.”
