Coinbase Eyes Solana Futures Launch as It Ramps Up Derivatives Push

Coinbase is planning to launch cash Solana Futures contracts on its regulated derivative exchange, because it tries to expand its offer to strengthen his business results and compete with established players.

“We actively work together with the Commodity Futures Trading Commission to submit and mention Solana Futures to the Coinbase Derivatives Exchange,” a spokesperson confirmed with Decrypt at the end of Thursday.

If approved, the contracts would offer investors a unique instrument compared to those of the CME Group with Chicago headquarters, which is currently limited to futures and options of Bitcoin and Ethereum.

In the third quarter of 2024, Coinbase reported the total turnover of $ 573 million, a decrease of 27% compared to the previous quarter. That figure includes all transaction types, including spot and derivatives trade.

CME Group’s crypto product suite meanwhile achieved record performance in 2024, with an average daily volume of 116,000 contracts, which marks an increase of 203% on an annual basis, according to its own figures.

Coinbase wants to offer contracts that each represent 100 Sol tokens, with an estimated value of $ 25,000 at the current prices, according to one document Reviewed by Decrypt.

Although a first list date for the contracts has been reserved to start acting “on or after February 18,” the actual date is still for the time being “,”, Decorate was told.

When asked why the document was no longer available on the Coinbase website, the spokesperson said that the exchange provider “since we had taken it away while we work with the CFTC to mention Solana Futures.”

The move is because the volatility statistics from Solana show a more active price movement than large cryptos, with 30-day volatility at 3.9% compared to Bitcoin’s 2.3% and the 3.1% of Ethereum.

Solana is the fourth largest token of industry, with a market capitalization of more than $ 114.6 billion, Coingecko data shows.

To watch against market manipulation, Coinbase has designed an advanced settlement mechanism that 20 -minute intervals use over a one -hour window and gets data from its place of trading location.

“Given that the Solana -token is traded at several fairs, both in the United States and abroad, it would be difficult, if not impossible to manipulate the price of the underlying market,” is the document.

The stock market determines the position limits at 3,500 aggregated contracts – very 30% lower than its bitcoin -futures when measured against market capitalization – which contains a careful approach to risk management.

The contracts include 10% price limits per hour and advanced risk management, including kill switches and exposure limits. Nodal Clear uses clearing services.

On Frankfurt, market vector indexes GmbH will offer the benchmarket rate for settlement prices, which adds low legal supervision, since the company is supervised by the German financial watchdog Bafin, the document is.

Published by Sebastian Sinclair