Coinbase Derivatives Files to List Solana (SOL) and Hedera (HBAR) Futures

Coinbase Derivatives, a subsidiary of the leading cryptocurrency exchange Coinbase, has filed documents with the Commodity Futures Trading Commission (CFTC) to list Solana (SOL) and Hedera (HBAR) futures.

Cryptocurrency exchange Coinbase is planning to expand its derivatives offerings by listing Solana (SOL) and Hedera (HBAR) futures, according to a filing with the Commodity Futures Trading Commission (CFTC). The exchange aims to launch the contracts as early as February 18, 2025.

Coinbase Derivatives Files for Solana, Hedera Futures

Coinbase is preparing to introduce cash-settled futures contracts for Solana (SOL) and Hedera (HBAR), both of which will have monthly settlement periods, as stated in the filing. The Solana futures contract is designed to be valued at 100 SOL, which is currently around $24,000. In addition to the standard futures contract, nano contracts for Solana will also be offered, allowing traders to trade in smaller units of five SOL.

On the other hand, the Hedera futures will have a contract size of 5,000 HBAR tokens.

The filing also includes specifications for the minimum price increment, initial margin, and maintenance margin requirements for each futures contract, providing detailed information on the trading parameters.

Coinbase's Ambitions in Crypto Derivatives

Coinbase's foray into crypto futures follows a broader narrative of traditional financial institutions exploring avenues to offer crypto products. With increasing regulatory clarity and a growing appetite for financial instruments that enable institutional investors to hedge their cryptocurrency exposure, Coinbase is well-positioned to capture a portion of the lucrative derivatives market.

The exchange's entry into the crypto futures arena is a significant development, and it will be interesting to observe how other exchanges and market participants respond to this strategic move.