FalconX, a leading prime broker in the digital asset space, alongside StoneX, a global financial services firm, has successfully executed the inaugural block trade of CME Group’s newly launched Solana futures.
In a press announcement dated March 16, it was noted that this CME SOL futures transaction underscores the growing appetite for regulated digital asset investments, such as Solana (SOL), while reinforcing FalconX’s status as a key player in institutional cryptocurrency trading.
The CME Group, recognized as the largest derivatives exchange globally, introduced SOL futures on February 28, providing investors with a mechanism to speculate on the price movements of Solana without the necessity of owning the asset. These futures are cash-settled and available in two contract sizes: 500 SOL for standard contracts and 25 SOL for micro contracts.
The pricing for these futures aligns with the CME CF Solana-Dollar Reference, which offers a daily reference rate for the U.S. dollar price of Solana, calculated at 4:00 p.m. London time.
Block trades, like the transaction executed by StoneX and FalconX, allow institutions to make substantial trades without causing significant market disruptions. Josh Barkhordar, FalconX’s head of U.S. sales, highlighted this as a crucial advancement in enabling crypto trading for institutional participants.
As stated by Eric Rose, head of digital asset execution at StoneX, the firm is committed to enhancing institutional access to cryptocurrency through regulated trading avenues.
“StoneX and StoneX Digital take pride in supporting CME’s groundbreaking initiatives aimed at broadening institutional access to cryptocurrencies through a regulated and compliant range of listed derivatives.”
— Eric Rose, Head of Digital Asset Execution at StoneX Digital
The cryptocurrency futures market at CME has witnessed rapid growth, with the average daily trading volume reaching 202,000 contracts in early 2025, marking a 73% increase from the previous year, as reported in a February 28 announcement. Open interest surged by 55% to 243,600 contracts, with over 11,300 unique accounts engaged in trading CME’s crypto offerings.
The introduction of SOL futures coincides with a rising interest in Solana exchange-traded funds (ETFs). Leading asset managers, including Franklin Templeton, Grayscale, 21Shares, Bitwise, and VanEck, have filed applications for spot Solana ETFs. Analysts believe that CME’s SOL futures could facilitate the approval of SOL ETFs, similar to the previous developments seen with Bitcoin (BTC) and Ethereum (ETH).