CME launches options for Solana and XRP under CFTC oversight

The Chicago Mercantile Exchange Group (CME), the world’s largest derivatives marketplace, has launched options products for Solana and XRP, which are regulated by the US Commodity Futures Trading Commission (CFTC). Trading has officially started today.

Users now have the ability to trade options on SOL, Micro SOL, XRP, and Micro XRP futures, with expiries available every day of the business week, every month and every quarter.

CFTC-regulated options on Solana and XRP are now live and trading today 🚀

✅ Seamless integration: Physically settled into the underlying futures contract.
✅ Flexible exposure: Trade larger and micro sizes.

Explore Crypto options contracts ➡️ https://t.co/lVXqqYagAG pic.twitter.com/RF5COIFX98

— CME Group (@CMEGroup) October 13, 2025

According to CME, these options allow physical delivery against corresponding futures and support both standard and micro contract trading. They also carry the advantage of enhancing risk management tools for institutional traders.

CME’s futures for XRP and SOL increase optimism

In 2017, the CME approved the first Bitcoin Futures contract, effectively signaling its interest in crypto. Over time, the mega exchange listed more crypto products, including Ethereum, Solana, and XRP futures. Also, they have added not only futures but also option contracts for Bitcoin, Ethereum, and now XRP and SOL.

Futures are contracts to buy or sell an asset at a set price on a future date, while options give traders the right, but not the obligation, to buy or sell those futures at predetermined prices. 

The benefit is that the more crypto options products the CME lists, the better the liquidity and price efficiency of the associated tokens become. The involvement of institutional-grade market makers and hedge funds effectively deepens liquidity pools for SOL and XRP, tightening spreads and reducing slippage.

According to a previous statement by  Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, “Available in two different sizes, these contracts will offer a wide range of market participants – from institutions to sophisticated, active, individual traders – additional choice and greater flexibility to manage their exposure to two market-leading cryptocurrencies.”

Meanwhile, institutional investors are quickly embracing CME’s futures for XRP  and Solana. The standard Solana futures contract, sized at 500 SOL, launched in mid-March and crossed the $1 billion notional open interest mark in August. 

On the other hand, futures tied to the payments-focused XRP crossed that threshold in August, just three months after they began trading with a standard contract size of 50,000 XRP. 

Notional open interest, which represents the outstanding value of contracts, reached a record $39 billion in mid-September, CME said. In August, CME had 335,200 outstanding contracts, up 95% year-over-year, it said.

The organization is also working towards another goal. According to its official announcement, its crypto futures and options, which currently cover Bitcoin and Ethereum, will become tradable 24/7 in early 2026, pending regulatory review.  

Global crypto derivatives open interest holds near $4 billion

Due to regulatory clarity from measures such as the GENIUS Act and a pro-crypto White House, demand for regulated crypto derivative products has been growing steadily. So far, the demand has been met by traditional exchanges as well as US-based fintech companies and crypto platforms.

In February, Coinbase introduced Solana (SOL) futures contracts in the US, including standard and “nano” contract sizes. The exchange later announced the acquisition of the options exchange Deribit.

In addition, Crypto exchange Kraken launched its derivatives arm in the country in July, and Robinhood rolled out micro futures contracts for Bitcoin, Solana, and XRP through its derivatives arm. The surge of regulated offerings in the US comes as global crypto derivatives open interest holds near $4 billion, according to CoinMarketCap.

Meanwhile, the Solana price showed sustained momentum in an uptrend during August and September, gaining about 60% from the lows of $157. Even after the recent market downturn, the Solana price has managed to recover and is again taking support near $191. SOL is currently trading at $194.77 after surging 3% in the last 24 hours.

On the other hand, XRP clawed back $30 billion in market value after last week’s collapse, ripping from $2.37 to $2.56 on explosive institutional volume. The coin is up 3.74% in the last 24 hours.

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