According to the firm, the options product will be offered on standard and micro contracts for both tokens, with expiries available weekly throughout the year.
Unlike its futures product, which binds traders to buy or sell at a set price on a future date, the options product provides investors with the right, but not the obligation, to enter into those contracts. That flexibility allows market participants to hedge downside risks or leverage price movements more precisely.
Giovanni Vicioso, CME’s global head of crypto products, said:
“The launch of these options contracts builds on the significant growth and increasing liquidity we have seen across our suite of Solana and XRP futures.”
Notably, CME’s decision builds on months of rising liquidity in its existing Solana and XRP futures.
The exchange reports more than 370,000 contracts traded to date, worth $16.2 billion in aggregate. Average daily volumes have climbed to 6,600 contracts, with open interest recently touching $942 million.
Considering this, the exchange argued that this liquidity proves there is sufficient demand to sustain a parallel options market.
Joshua Lim, global co-head of markets at FalconX, said:
“The rise of digital asset treasuries and other access vehicles for crypto has only accelerated the need for institutional hedging tools on Solana and XRP.”
