FalconX, in collaboration with StoneX, executed the first-ever block trade with CME Group’s Solana (SOL) futures. This significant move highlights the growing demand for crypto services among institutional clients.
Demand for Cryptocurrencies Among Institutional Investors
Despite the high interest and adoption of cryptocurrencies among institutional clients, markets demand products like Solana futures to provide regulated access to digital assets beyond Bitcoin and Ethereum. Josh Barkhordar, Head of US Sales at FalconX, noted that this allows institutional investors to manage risk on a regulated venue.
CME Group's Solana Futures Launch
In February, CME Group launched Solana futures to offer investors a way to trade Solana's price movement without direct asset ownership. These futures are cash-settled and come in two sizes: standard contracts of 500 SOL and micro-contracts of 25 SOL. Prices are backed by the CME CF Solana-Dollar Reference Rate calculated daily at 4:00 p.m. London time.
Crypto Investment Options for Institutional Clients
Additionally, Deutsche Börse, through its subsidiary ClearStream, plans to launch a new custody service for institutional investors, initially supporting BTC and ETH with plans to expand to more digital assets. The service, scheduled for April, will offer custody and settlement access for digital assets to institutional clients.
FalconX and StoneX's collaboration on launching CME Group's Solana futures underscores the growing institutional interest in crypto assets. With the launch of new products and services, companies aim to meet the industry's increasing demands.
