FalconX Carries Out ‘First’ CME Group Solana Futures Block Trade

Digital Asset Prime Broker Falconx said on Saturday that it has completed the “very first” Blokhandel for the Solana Futures of CME Group with Stonex as a counterparty, one day prior to the SOL-Futures launch of new contracts expected on 17 March.

San Mateo’s headquarters, California, carried out the transaction with the aim of offering a way “to manage risk and price exposure at a regulated location,” said Josh Barkhordar, head of American sale at the company in a rack.

A block trade in this context is a private-negotiated transaction of the futures contracts, outside the open market to prevent the price of the actual disruption to be disrupted.

CME group debuted The Solana Futures contract at the end of February to meet the “increasing demand of the customer”, because it competitions to position the supply as a precursor and “primary pre-requirement” for one Sol ETF.

Various business management companies have submitted applications to the US Securities and Exchange Commission to launch Solana ETFs.

Franklin Templeton in particular, who manages more than $ 1.5 trillion in assets, submitted an application at the end of February 2025. Other companies, including Grayscale, 21Shares, Bitwise, Vaneck and Canary Capital, have also submitted a request for Spot Solana ETFs.

Solana Futures follow the pattern that has been determined with Bitcoin and Ethereum, where Futureshand preceded ETF authorization and approval of a regulatory body.

The new contracts come in two sizes: standard contracts that represent 500 sol and micro contracts that represent 25 SOL.

The futures are then set in cash on the basis of the CME CF Solana-Dollar reference rich, calculated daily at 16:00 London in London, and offers a standardized benchmark for the US Dollar Prize of SOL.

Falconx works as an important liquidity provider for CME Group’s Crypto Derivatives Suite. The company reports that more than $ 1.5 trillion in trade volume is being carried out over more than 400 tokens for around 600 institutions.

The company has pursued strategic expansion on institutional crypto markets, acquiring Derivatenplatform Arbelos Markets in January 2025 and cooperated with Liquuidity and Data Solutions Provider TP ICAP’s Fusion Digital Assets in February last year.

In the meantime, CME Group claims that the market for Crypto derivatives has demonstrated considerable growth, with an average volume of day achieved 202,000 contracts At the beginning of 2025, an increase of 73% represents an annual basis.

The Exchange reports average open interest of 243,600 contracts, an increase of 55% on an annual basis, with more than 11,300 unique accounts trading its crypto products.

On centralized crypto fairs, Solana derivatives show a volume reduction from 66% to $ 7.24 billion, with a bullish bias with several long/short relationships above 2, despite about $ 12.29 million in 24-hour liquidations, facts van Coinglass shows.

Solana has fallen to $ 127 by 6.4% and remains under pressure after the all time of January almost $ 293.31, Coingecko facts Shows.

Published by Sebastian Sinclair