Coinbase has introduced Solana futures contracts on its US derivatives exchange, marking a significant development in the crypto trading landscape. These contracts are regulated by the Commodity Futures Trading Commission (CFTC) and are designed to facilitate institutional adoption of Solana (SOL). This initiative could potentially lead to the launch of a Solana exchange-traded fund (ETF) in the United States.
Coinbase has also announced the launch of futures contracts for Hedera (HBAR), the native currency of the Hedera network. The inclusion of SOL and HBAR in its futures lineup is part of Coinbase’s strategy to advance the regulatory framework for crypto derivatives in the US and meet the growing demand for digital assets.
The SOL futures offerings from Coinbase include standard contracts representing 100 SOL and smaller “nano” contracts representing 5 SOL. These products cater to both institutional and retail investors, providing various avenues for engaging with the Solana network.
The ability to trade futures contracts is critical for the eventual establishment of spot cryptocurrency ETFs, as it creates a reliable benchmark for asset performance. Currently, multiple ETF issuers have submitted applications to the US Securities and Exchange Commission for spot Solana ETFs, which is expected to decide on these applications by October 2025. According to Bloomberg Intelligence, there is a 70% chance that SOL ETFs will be approved, with expectations for a futures-based ETF to be introduced by March.
In the wake of regulatory shifts following recent US elections, there has been a surge in applications for ETFs holding altcoins like SOL, XRP, and Litecoin. The SEC has already given the green light to spot ETFs for Bitcoin and Ether, along with ETFs encompassing a diverse range of crypto assets.
The popularity and trading volume of cryptocurrency derivatives have seen explosive growth, with Coinbase reporting a nearly 11,000% increase in 2024. Since the launch of its US derivatives platform in 2022, Coinbase has expanded its offering to include various futures products, from memecoins like Dogecoin and Shiba Inu to traditional commodities such as oil and gold.
