CME Group announced plans to list options on Solana (SOL) and XRP futures on October 13, 2025, subject to regulatory approval. The launch would expand institutional hedging choices across standard and micro contracts with daily, monthly, and quarterly expirations. It primarily targets institutional managers and liquidity providers seeking more granular risk management.
Announcement and market context
CME Group and sources including Stocktitan frame the expansion as a response to institutional demand for more complex hedging instruments. Solana and XRP have already seen substantial use on the platform, supporting the rationale for options. In August 2025, Solana recorded an Average Daily Volume of 9,000 contracts valued at $437.4 million, while XRP reached 6,600 contracts valued at $385 million. These figures indicate deep futures liquidity that aids price discovery and institutional hedging.
Market participants such as Cumberland and FalconX describe the step as a natural phase in market maturation that extends attention beyond Bitcoin and Ether. Analysts warn that options can increase market volatility and leverage, urging strict risk controls. This balance of expanded hedging tools and higher risk highlights the need for disciplined margin and pricing practices.
Derivatives and positioning
The CME outlined contract specifications across SOL and XRP futures, alongside micro equivalents. Trading for Solana futures follows New York hours from Sunday to Friday, 6:00 PM to 5:00 PM, and the listing cycle includes six consecutive months, four quarterly, and a second December series if needed. Options will span standard and micro series with daily, monthly, and quarterly expirations to fit hedging needs.
- Solana Futures: a contract is 500 SOL; the smallest price change is $0.05 per SOL, which equals $25 per contract; trading hours (NY) are Sunday to Friday from 6:00 PM to 5:00 PM; listing cycle is six consecutive months, four quarterly, plus a second December series if needed.
- Micro Solana Futures: a contract is 25 SOL; the smallest price change is $0.05 per SOL, which equals $1.25 per contract.
- XRP Futures: a contract is 50,000 XRP; the smallest price change is $0.0005 per XRP, which equals $25 per contract.
- Micro XRP Futures: a contract is 2,500 XRP; the smallest price change is $0.0005 per XRP, which equals $1.25 per contract.
With options available, portfolio management in SOL and XRP could become more precise, enabling income and protection strategies. Institutional counter flows may emerge as participants rebalance exposures. However, added leverage raises the chance of volatility spikes and liquidations, requiring robust margin management and valuation models.
The proposed listing date is October 13, 2025, and completion depends on regulatory approvals. If approved, the new options would broaden institutional hedging beyond existing futures, with practical impact determined by how participants and risk infrastructures adjust their operations.
