The Chicago Mercantile Exchange (CME), a leading global derivatives platform, may be considering the launch of futures contracts for Solana (SOL) and Ripple’s XRP. This speculation arose from a leaked beta webpage outlining the proposed contracts’ specifications, which was swiftly taken down after publication.
Fox Business journalist Eleanor Terrett reported that a spokesperson for CME has clarified that the page was part of a draft environment used for testing purposes and was unintentionally made public. “No official decisions have been made regarding the launch of futures contracts for these tokens,” the spokesperson stated.
A @CMEGroup spokesperson tells @FoxBusiness that the beta version of the website, which is often used for mock up drafts, was made public in error. No official decisions have yet been made about launching futures contracts for either token. https://t.co/10XfenoIL7
— Eleanor Terrett (@EleanorTerrett) January 23, 2025
The leaked information suggested that CME may introduce standard and micro futures contracts for Solana and XRP. For Solana, standard contracts would feature a lot size of 500 SOL, with micro contracts reduced to 25 SOL. Similarly, XRP futures could involve standard contracts of 50,000 XRP per lot and micro contracts sized at 2,500 XRP. All contracts would reportedly settle in U.S. dollars, catering to institutional investors hesitant about direct cryptocurrency settlements.
Despite the uncertainty, industry analysts believe such a move would be logical. Bloomberg ETF analyst James Seyffart noted,
“Honestly makes sense and largely to be expected if true IMO.”
He has previously emphasized the potential importance of Solana futures on the CME, especially in alleviating liquidity concerns. While Coinbase leads the Solana futures market, questions regarding its scale and liquidity persist.
“I’m not certain if the Coinbase SOL futures are sufficiently large and liquid,”
Seyffart commented.
Notably, ProShares filed for a Solana futures ETF on January 17, 2024, outlining its plan to introduce leveraged and inverse Bitcoin ETFs, aiming to derive daily investment returns from Bitcoin price fluctuations. Additionally, WisdomTree applied for an XRP ETF in December 2024. Other players, such as Bitwise, 21Shares, and Canary Capital, are also vying to expand their offerings in this space.
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