Coinbase Eyes Solana Futures Launch as It Ramps Up Derivatives Push
Coinbase plans to introduce cash-settled Solana futures contracts on its derivatives exchange as part of its strategy to expand offerings and compete with established entities like CME Group, which currently only offers Bitcoin and Ether futures. A spokesperson confirmed that discussions with the Commodity Futures Trading Commission (CFTC) are underway and that the contracts might become available for trading starting February 18.Each contract will represent 100 SOL tokens, approximately valued at $25,000. With Solana's volatility metrics displaying more active movement than Bitcoin and Ethereum, Coinbase has implemented safeguards against market manipulation, using a sophisticated settlement mechanism based on data pulled from its spot market over timed intervals. The exchange will limit positions to 3,500 contracts and introduce controls against price fluctuations, enhancing risk management. With the Solana token's market cap exceeding $114.6 billion, there is considerable institutional interest, prompting Coinbase's push into this market.
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