Coinbase files to list Solana and Hedera futures on its derivatives trading platform
2025-01-31
Category: None

Coinbase Derivatives, a subsidiary of the U.S.-based crypto exchange, has filed to list new futures contracts for Solana and Hedera, according to separate regulatory filings on Thursday. 
The exchange is looking to list these new contracts, which will be cash-settled on a monthly basis, on or after Feb. 2025. 
Coinbase is the latest firm looking to capitalize on the improved market sentiment and the possibility of positive regulatory advancement under the Trump Administration.
CME, for instance, appears to be readying to launch SOL and XRP futures in the coming weeks, while asset managers such as VanEck and ProShares submitted a flurry of crypto ETF filings to trade Litecoin, XRP and Solana in the days leading up to Inauguration Day. 
Launched in June 2021, Coinbase Derivatives is regulated by the Commodity Futures Trading Commission as a “designated contract market” to allow users to trade crypto derivatives like futures contracts on various digital assets, including BTC and ETH.
If approved, the new Solana futures will have a contract size of 100 SOL (around $24,000) contract notional, or the monetary value of a futures contract at a given price. Trading terminates at 4:00 PM London time on the last Friday of the contract month. The exchange also filed to list a “nano” Solana contract with a size of five SOL. The Hedera contract would track 5,000 Hedera tokens.
Nodal Clear, LLC, a CFTC-registered derivatives clearing organization, will clear the contracts.
“The Exchange has spoken with FCMs and market participants who support the decision to launch a nano Solana Contract. The Exchange is not aware of any substantive opposing views to the Contract,” Coinbase wrote in all three regulatory filings.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.