FalconX and StoneX Complete First Block Trade of CME’s Solana Futures

FalconX, a leading prime broker for digital assets, and StoneX, a global financial services firm, have completed the first-ever block trade of CME Group’s newly introduced Solana futures.

According to a March 16 press statement, this CME SOL futures transaction illustrates the increasing demand for regulated digital asset investments like Solana (SOL), and further solidifies FalconX as a leader in institutional cryptocurrency trading.

CME Group, the largest derivatives exchange globally, launched SOL futures on February 28, providing investors a means to trade Solana’s price movements without owning the asset. These futures are cash-settled and come in two sizes: 500 SOL for standard contracts and 25 SOL for micro contracts. Their pricing adheres to the CME CF Solana-Dollar Reference, offering a daily reference rate of the U.S. dollar price of Solana, calculated at 4:00 p.m. London time.

Block trades, such as the one executed by StoneX and FalconX, allow institutions to carry out large transactions without significantly affecting the market. Josh Barkhordar, FalconX’s head of U.S. sales, characterized this as a pivotal move towards facilitating crypto trading for institutions.

Eric Rose, StoneX’s head of digital asset execution, stated the company’s commitment to enhancing institutional access to cryptocurrency via regulated trading options.

> “StoneX and StoneX Digital are proud to support CME’s innovative initiatives to enhance institutional access to cryptocurrencies through a regulated and compliant suite of listed derivatives.”
> — Eric Rose, Head of Digital Asset Execution at StoneX Digital

CME’s crypto futures market has experienced rapid growth. By early 2025, the average daily trading volume reached 202,000 contracts, reflecting a 73% increase year-over-year, as reported in a February 28 press release. Open interest also surged by 55% to 243,600 contracts, with over 11,300 unique accounts engaged in trading CME’s crypto products.

The introduction of SOL futures coincides with a rising interest in Solana exchange-traded funds (ETFs). Leading asset managers such as Franklin Templeton, Grayscale, 21Shares, Bitwise, and VanEck have already filed for spot Solana ETFs. Analysts suggest that CME’s SOL futures could pave the way for SOL ETF approvals, mimicking the trends observed with Bitcoin (BTC) and Ethereum (ETH).

Read more: BlackRock likely to file for Solana and XRP ETFs: ETF Store president