Coinbase derivatives seeks to list Solana and Hedera futures contracts
Coinbase derivatives seeks to list Solana and Hedera futures contracts
Coinbase Derivatives has filed to list futures contracts for Solana (SOL) and Hedera (HBAR), marking a significant step in expanding its derivatives offerings.
The exchange aims to launch these cash-settled contracts on or after February 2025, pending regulatory approval, reports The Block.
If approved, the new Solana futures contract will have a size of 100 SOL (approximately $24,000 at current prices), while a smaller “nano” contract will cover five SOL. The Hedera contract will track 5,000 HBAR. These products will be cleared through Nodal Clear, LLC, a CFTC-registered derivatives clearing organization.
Coinbase’s move aligns with a broader industry trend, as firms look to capitalize on improved market sentiment and regulatory clarity. CME Group is reportedly preparing to launch SOL and XRP futures, while asset managers like VanEck and ProShares have filed to list crypto ETFs for Litecoin, XRP, and Solana.
Since its launch in June 2021, Coinbase Derivatives has been regulated by the Commodity Futures Trading Commission (CFTC) as a designated contract market, allowing it to offer futures trading on digital assets like Bitcoin and Ethereum.
Regulatory landscape and market outlook
The regulatory landscape in the U.S. remains a key factor for crypto derivatives expansion. Coinbase noted in its filings that it consulted with futures commission merchants (FCMs) and market participants, who largely support the introduction of a nano Solana contract. The exchange stated that it is unaware of any strong opposition to the proposed listings.
With increasing institutional demand for crypto futures and growing regulatory clarity, Coinbase’s latest filings suggest that the market for digital asset derivatives could see further expansion in 2025.
Additionally, Coinbase expands into Argentina as crypto adoption rises.
