CME Group has introduced options trading this week on both Solana (SOL) and XRP futures.
Clients will now have the ability to trade options on SOL, Micro SOL, XRP, and Micro XRP futures, with daily, monthly and quarterly expiries available.
The first trade for options on XRP futures took place on Oct. 12 and was executed between Wintermute and Superstate. The first trade for options on SOL futures took place on Oct. 13 and was executed between Cumberland DRW and Galaxy.
“As the crypto market continues to mature, market participants increasingly are looking to manage their exposure and pursue new opportunities across a wider range of crypto instruments,” Giovanni Vicioso, global head of cryptocurrency products at CME Group, said. “With the deep liquidity we’ve built in our Solana and XRP futures markets, these new options provide traders with additional tools to further enhance their growing cryptocurrency investment and hedging strategies. We are pleased with the early support we’ve seen from a wide range of clients for these new contracts.”
Ethan Ren, head of options at Wintermute Group, said the launch marks an important extension of listed crypto derivatives beyond BTC and ETH. It reflects a growing sophistication in how market participants manage exposure.
“We’re pleased to have participated in the first CME Group XRP options block trade alongside Wintermute,” Saahith Pochiraju, portfolio manager at Superstate, said. “The launch of options on XRP futures expands the instruments available to manage and hedge digital asset exposure within strategies like our Superstate Crypto Carry fund. This development reflects growing institutional depth in crypto derivatives, and we’re glad to support CME Group’s ongoing efforts to broaden liquidity and market access.”
Roman Makarov, head of Cumberland Options Trading at DRW, said institutional participants are seeking greater choice and depth in crypto markets. This is a trend that will continue to drive innovation across the ecosystem, he said.
“We’re proud to facilitate the first block trade on CME Group’s SOL options, expanding institutional access to one of the fastest growing blockchain ecosystems,” Jason Urban, global head of trading at Galaxy, said. “The addition of SOL and XRP options marks another important step in the evolution of regulated crypto derivatives, deepening liquidity and broadening the tools available to market participants.”