Coinbase’s Astonishing Move Into Solana and Hedera Futures

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What to know:

  • Coinbase’s derivatives arm, with all the fervor of a mathematician discovering a perfect equation, has applied for self-certification to list Solana, Hedera, and the diminutive nano Solana futures. Yes, a filing shows this rigorous endeavor.
  • The Solana contracts, the heft you can almost feel, would have a size of 100 SOL, while their feather-light cousins, the Hedera contracts, would track 5,000 HBAR.
  • Coinbase, in its quest for digital dominance, or just to amuse us all, seeks to list these futures with an almost poetic urgency as of Feb. 18, it declared loftily in the filing.

Coinbase Derivatives, the sprightly subsidiary of the crypto castle, has diligently presented its scrolls to the Commodity Futures Trading Commission (CFTC), eager to dazzle the world with Solana (SOL) and Hedera (HBAR) futures.

The grand revelation? The exchange, with a flourish rivaling a magician pulling a rabbit from a hat, plans to unveil this grand product on Feb 18., with the sparkling new contracts being cash-settled monthly. Mark your calendars, dear friends!

A hundred SOL for the Solana futures contract—currently a princely sum of roughly $24,000, if the whimsical fates approve. Not to be outdone, we also have the “nano” Solana contracts, a mere five SOL. Hedera futures, by comparison, parade in with a robust 5,000 tokens.

This bold maneuver follows the exuberant rush of crypto firms stepping onto the stage of new product launches, buoyed perhaps by the crypto-friendly Post-Election Euphoria™ associated with President Donald Trump. Only last week, the venerable CME, in a bout of premature enthusiasm, accidentally unveiled a page for XRP and SOL futures in their digital attic, otherwise known as the “staging subdomain.”

CME, with the finesse of a juggler revealing empty hands, assured CoinDesk that the spill was but a clumsy accident, with no conclusive plans regarding the debut of SOL or XRP futures.

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2025-01-31 02:03