CME Group Rolls Out First XRP and Solana Options Trades
CME Group has launched options linked to XRP and Solana (SOL) futures, with early trades executed by leading market participants including Wintermute, Galaxy, Cumberland DRW, and SuperState.
The new contracts cover SOL, Micro SOL, XRP, and Micro XRP futures, with daily, monthly, and quarterly expirations. Options give holders the right—but not the obligation—to buy or sell the underlying asset at a set price. Call options allow buying, while put options allow selling.
The launch expands CME’s crypto product suite, which already includes standard and micro futures for XRP, SOL, Bitcoin, and Ether. Rising institutional demand for risk management and hedging solutions has driven rapid growth in crypto options trading.
“As the crypto market matures, participants seek more ways to manage exposure and explore opportunities across a wider range of instruments,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME. “These options complement the liquidity in Solana and XRP futures, providing traders with additional tools for investment and hedging strategies. Early client support has been strong.”
The first Solana options trade occurred Monday as a block trade between Cumberland DRW and Galaxy. Roman Makarov, Head of Cumberland Options Trading at DRW, noted this trade highlights growing institutional demand for diverse trading tools.
The first XRP options trade was executed Sunday, October 12, as a block trade between Wintermute and SuperState. Saahith Pochiraju, Portfolio Manager at SuperState, said the contracts help manage and hedge digital asset exposure in strategies such as the Superstate Crypto Carry fund.
