CME Group Debuts First XRP and Solana Options Trades
CME Group has launched options linked to XRP and Solana (SOL) futures, with early trades conducted by major market participants including Wintermute, Galaxy, Cumberland DRW, and SuperState.
The new offering allows traders to access options on SOL, Micro SOL, XRP, and Micro XRP futures, with daily, monthly, and quarterly expirations. Options give holders the right, but not the obligation, to buy or sell an underlying asset at a predetermined price. Call options allow purchasing, while put options allow selling.
This launch expands CME’s existing crypto product suite, which includes standard and micro futures for XRP, SOL, Bitcoin, and Ether. Growth in crypto options trading has been driven by rising institutional demand for hedging and risk management tools.
“As the crypto market matures, participants are seeking more ways to manage exposure and explore opportunities across a broader set of instruments,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME. “With deep liquidity in Solana and XRP futures, these options provide traders additional tools to enhance investment and hedging strategies, and early client support has been strong.”
The first Solana options trade occurred Monday as a block trade between Cumberland DRW and Galaxy. “Facilitating the first SOL options block trade demonstrates the growing institutional demand for diverse trading tools,” said Roman Makarov, Head of Cumberland Options Trading at DRW.
The first XRP options trade was executed Sunday, October 12, as a block trade between Wintermute and SuperState. Saahith Pochiraju, Portfolio Manager at SuperState, highlighted that XRP options enable improved risk management for strategies such as the Superstate Crypto Carry fund.
