Coinbase Derivatives Files for New Futures Contracts

Coinbase Derivatives, a subsidiary of the U.S.-based crypto exchange, has filed to list new futures contracts for Solana and Hedera, according to separate regulatory filings on Thursday.

The exchange aims to list cash-settled contracts on a monthly basis starting on or after February 2025.

Coinbase is seizing the opportunity to benefit from the improved market sentiment and potential positive regulatory changes under the Trump Administration.

The Chicago Mercantile Exchange (CME) seems poised to launch SOL and XRP futures soon, while asset managers like VanEck and ProShares have recently submitted numerous crypto ETF filings to trade Litecoin, XRP, and Solana ahead of Inauguration Day.

Launched in June 2021, Coinbase Derivatives is regulated by the Commodity Futures Trading Commission as a “designated contract market.” It enables users to trade crypto derivatives such as futures contracts on various digital assets including BTC and ETH.

If approved, the Solana futures contracts will have a size of 100 SOL (approximately $24,000). Trading will close at 4:00 PM London time on the last Friday of the contract month. The exchange also filed to list a “nano” Solana contract sized at five SOL. The Hedera contract will track 5,000 Hedera tokens.

Nodal Clear, LLC, a CFTC-registered derivatives clearing organization, will handle the clearing of these contracts.

Coinbase stated in all three regulatory filings, “The Exchange has spoken with FCMs and market participants who support the decision to launch a nano Solana Contract. The Exchange is not aware of any substantive opposing views to the Contract.”