A day after securing a license in Argentina, Coinbase is intensifying efforts to broaden its product lineup with a proposal for Solana (SOL) futures contracts.
Coinbase Eyes Solana Futures Contracts
The US largest crypto trade has formally filed with the Commodity Futures Buying and selling Fee (CFTC) on Thursday to introduce a brand new funding software focusing on institutional traders.
If authorized, the USD-settled contracts will launch on February 18, with every contract representing 100 SOL tokens and a notional worth of roughly $25,000.
By increasing into Solana derivatives, Coinbase goals to strengthen its aggressive place and appeal to extra institutional capital.
Solana ranks because the fifth-largest cryptocurrency, with a market cap exceeding $116.8 billion.
Tapping Into Solana’s Volatility
The transfer aligns with Coinbase’s technique to capitalize on rising demand for Solana-based funding merchandise, leveraging the token’s volatility and powerful presence in DeFi and NFTs.
The timing is notable, as companies like VanEck and Bitwise have lately filed for Solana ETFs, signaling broader institutional curiosity.
If authorized, Solana futures may differentiate Coinbase from industry-heavyweight CME Group, which at present affords futures and choices just for Bitcoin and Ethereum.
Why This Issues
With crypto market volatility surging, Coinbase’s push into Solana futures underscores its bid to drive income development and problem established gamers. The transfer displays growing confidence in Solana as an investable asset, probably accelerating the broader adoption of crypto derivatives.
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