CME Group is potentially preparing to launch futures contracts for Solana (SOL) and XRP, based on reports and images shared on social media on Jan. 22.
However, CME Group has yet to make a public statement on the matter, and neither confirmed nor denied the authenticity of the images as of press time, leading to rampant speculation.
The information first surfaced when an X user, identified as Summers, shared a screenshot of an alleged CME page used for testing. This page, which was down as of press time, is set for a pre-launch on Feb. 10.
Alex Thorn, head of research at Galaxy Digital, later shared images revealing that CME would offer futures and micro futures contracts for both assets, all of which would be settled in cash.Â
The Solana futures contract has a size of 500 SOL, while the micro is 25 SOL. The XRP futures contract is sized at 50,000 XRP, and its micro version has a 2,500 XRP size.
Bloomberg ETF analyst James Seyffart cautioned that the page could be fake. However, he added that futures contracts for SOL and XRP make sense and are “largely to be expected.”
Seyffart also noted that if the images and website are fake, it would be a “good fakeout.”
Meanwhile, Bloomberg senior ETF analyst Eric Balchunas said he expects an exchange-traded fund (ETF) tracking SOL futures as early as mid-March. He also questioned the demand for such a product since a spot SOL ETF is likely coming soon.
Over 30 ETFs
The US market is experiencing a wave of crypto-related ETF filings. Seyffart recently highlighted that 33 ETFs, filed by 13 different issuers, are currently awaiting approval by the US Securities and Exchange Commission (SEC),
In addition to ETFs filed last year, tracking XRP, SOL, Hedera (HBAR), Litecoin (LTC), and baskets of assets, funds tied to memecoins also surfaced.
On Jan. 21, Rex Shares filed for seven different spot ETFs, three of them tied to the memecoins Official Trump (TRUMP), Dogecoin (DOGE), and Bonk (BONK). Balchunas remarked that the situation was “surreal.”
Although Bloomberg ETF analysts expected a wave of crypto ETF filings this year, they did not include memecoin-indexed spot funds in their predictions.
Matthew Sigel, head of digital assets research at VanEck, called on the SEC to revert the ETF approvals to the process of “first-come, first-served” amid the rise in new applications.
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