As Solana and XRP futures thrive, CME introduces options to match institutional market interests.
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CME Group announced it would launch options tied to Solana (SOL) and XRP futures by Oct. 13, according to a Sept. 17 statement.
According to the firm, the options product will be offered on standard and micro contracts for both tokens, with expiries available weekly throughout the year.
The exchange said these contracts are designed to meet growing demand from institutions and professional traders looking for tools beyond Bitcoin and Ethereum.
Unlike its futures product, which binds traders to buy or sell at a set price on a future date, the options product provides investors with the right, but not the obligation, to enter into those contracts. That flexibility allows market participants to hedge downside risks or leverage price movements more precisely.
Giovanni Vicioso, CME’s global head of crypto products, said:
“The launch of these options contracts builds on the significant growth and increasing liquidity we have seen across our suite of Solana and XRP futures.”
Notably, CME’s decision builds on months of rising liquidity in its existing Solana and XRP futures.
Since debuting SOL futures in March, more than 540,000 contracts have changed hands, representing $22.3 billion in notional value. Trading momentum peaked in August, when open interest reached 12,500 contracts valued at nearly $900 million.
On the other hand, XRP futures, which launched in May, have also generated comparable activity.
The exchange reports more than 370,000 contracts traded to date, worth $16.2 billion in aggregate. Average daily volumes have climbed to 6,600 contracts, with open interest recently touching $942 million.
Considering this, the exchange argued that this liquidity proves there is sufficient demand to sustain a parallel options market.
The exchange is coordinating with major liquidity providers, including Cumberland and FalconX, to support the launch.
Joshua Lim, global co-head of markets at FalconX, said:
“The rise of digital asset treasuries and other access vehicles for crypto has only accelerated the need for institutional hedging tools on Solana and XRP.”
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Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
CME Group is a global markets company empowering participants to efficiently manage risk and capture opportunities in every major asset class..
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