International derivatives marketplace CME Group today announced plans to launch Solana (SOL) futures on March 17, pending regulatory review.

Market participants will have the choice to trade both a micro-sized contract (25 SOL) and a larger-sized contract (500 SOL).

“With the launch of our new SOL futures contracts, we are responding to increasing client demand for a broader set of regulated products to manage cryptocurrency price risk,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group. “As Solana continues to evolve into the platform of choice for developers and investors, these new futures contracts will provide a capital-efficient tool to support their investment and hedging strategies.”

CME Group SOL futures will be cash-settled and based on the CME CF Solana-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of SOL and is calculated daily at 4:00 p.m. London time.

SOL futures will join the company’s crypto product suite that includes Bitcoin and Ether futures and options futures.. Year-to-date trading highlights include:

• Average daily volume of 202,000 contracts, up 73% year-over-year;
• Average open interest of 243,600 contracts, up 55% year-over-year;
• More than 11,300 unique accounts trading.