Coinbase Derivatives aims to obtain CFTC approval to launch new futures contracts for Solana and Hedera.
Application to CFTC
Coinbase Derivatives, the US-based subsidiary of the cryptocurrency exchange, has filed documents with the Commodity Futures Trading Commission (CFTC) seeking regulatory approval to launch futures contracts for Solana (SOL) and Hedera (HBAR).
Solana Futures
For Solana, two types of futures contracts are planned. The first is the Standard Solana Futures (SLC) with a contract size of 100 SOL. The second type is Nano Solana Futures (SOL) with a smaller contract size of 5 SOL. Assuming a price of $240 per SOL, these contracts have a notional value of $84 million.
Hedera Futures
The proposed Hedera futures (HED) contracts have a contract size of 5,000 HBAR. The position limit is set at 25 million HBAR. With an assumed price of $0.30 per HBAR, the notional value of these futures contracts would be approximately $7.5 million.
Once all necessary approvals are acquired, traders will be able to trade Solana and Hedera futures contracts without holding the actual tokens.
