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crypto.news 2025-03-17 07:10:57

FalconX and StoneX execute first block trade of CME’s SOL futures

FalconX, a top prime broker for digital assets, and StoneX, a global financial services company, have completed the first-ever block trade of CME Group’s recently introduced Solana futures. According to a Mar. 16 press statement , this CME SOL futures transaction demonstrates the rising demand for regulated digital asset investments like Solana ( SOL ), while further solidifying FalconX’s position as one of the industry leaders in institutional cryptocurrency trading. CME Group, the world’s largest derivatives exchange, launched SOL futures on Feb. 28 to give investors a way to trade Solana’s price movements without holding the asset. These futures are cash-settled and come in two sizes; 500 SOL for standard contracts and 25 SOL for micro contracts. Their prices follow the CME CF Solana-Dollar Reference, which provides a daily reference rate of the U.S. dollar price of Solana, calculated at 4:00 p.m. London time. You might also like: Solana hits over 400B transactions and nearly $1T in volume as it completes 5 years Block trades, such as the one carried out by StoneX and FalconX, enable institutions to conduct large transactions without significantly impacting the market. Josh Barkhordar, FalconX’s head of U.S. sales, described this as a key step toward facilitating crypto trading for institutions. According to StoneX’s head of digital asset execution, Eric Rose, the company is dedicated to increasing institutional access to cryptocurrency through regulated trading options. “StoneX and StoneX Digital are proud to support CME’s innovative initiatives to enhance institutional access to cryptocurrencies through a regulated and compliant suite of listed derivatives.” — Eric Rose, Head of Digital Asset Execution at StoneX Digital CME’s crypto futures market has been growing rapidly. Early in 2025, the average daily trading volume reached 202,000 contracts, a 73% increase over the previous year, as revealed in a Feb. 28 press release . Open interest also jumped 55% to 243,600 contracts, with over 11,300 unique accounts trading CME’s crypto products. The launch of SOL futures comes as interest in a Solana exchange-traded funds continues to grow. Top asset managers like Franklin Templeton, Grayscale, 21Shares, Bitwise, and VanEck have already filed for spot Solana ETFs. Analysts believe CME’s SOL futures could help pave the way for SOL ETFs approval, similar to what happened with Bitcoin ( BTC ) and Ethereum ( ETH ). Read more: BlackRock likely to file for Solana and XRP ETFs: ETF Store president

https://www.digistore24.com/redir/325658/ceobig/
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