Coinbase Launches SOL Futures, May Pave Way For SOL ETF

Coinbase Launches Solana Futures, May Pave Way for Spot SOL ETFs

Disclosure

Updated: 20 February 2025

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Leading US-based crypto exchange Coinbase has launched Solana (SOL) futures contracts on its regulated derivatives platform.

Announced in a Feb. 19 Coinbase blog post, the launch of CFTC-regulated SOL futures aims to drive institutional adoption of Solana and could pave the way for approval of spot Solana ETFs (exchange-traded funds) in the US.

Coinbase SOL Futures Products Include Contracts For Under $1,000

Coinbase’s SOL futures contracts are standardized agreements to buy or sell an underlying asset at a future date. According to the blog post, Coinsbase’s products will include standard contracts representing 100 SOL as well as retail-focused “nano” contracts representing just 5 SOL.

Coinbase Derivatives, LLC now offers CFTC-regulated futures for $SOL and $HBAR –bringing more institutional-grade crypto products to the U.S. futures market. pic.twitter.com/rLJz1bQGRA

— Coinbase Institutional 🛡️ (@CoinbaseInsto) February 18, 2025

Solana trades at $172.26 as of 1:19 a.m. EST following a more than 3% gain in the last 24 hours, which means Coinbase’s nano SOL futures contracts can be bought for less than $1,000.

The Coinbase derivatives exchange has also added futures contracts for Hedera (HBAR). With the latest additions, the platform now offers 19 futures contracts, including ones for crypto market leaders Bitcoin (BTC) and Ethereum (ETH), the largest meme coin by market cap Dogecoin (DOGE), Steller (XLM) and more, according to the blog post.

SEC Has Until October To Decide On Spot Solana ETFs

At least five ETF issuers have filed with the US Securities and Exchange Commission (SEC) for a spot Solana ETF. The securities regulator now has until October this year to reach a final decision on the filings. Bloomberg ETF analysts have put the odds of these SOL investment products getting approved this year at around 70%.

As Solana gains traction, investors will likely continue to flock to SOL layer-2 project Solaxy (SOLX). The project aims to increase Solana’s transaction throughput through its native sidechain. It will also bridge the Ethereum and Solana networks to create a super Web3 ecosystem.

Investors are already betting big on the project’s future, as evidenced by the over $22.4 million it has raised through its presale so far.