CME Group Announces First Trades of Options on Solana and XRP Futures

Rhea-AI Summary

CME Group (CME) launched options on Solana (SOL) and XRP futures, now available for trading with daily, monthly and quarterly expiries. The first XRP options trade occurred on Oct 12, 2025 between Wintermute and Superstate; the first SOL options trade occurred on Oct 13, 2025 between Cumberland DRW and Galaxy. CME said these contracts expand listed crypto derivatives beyond BTC and ETH and build on liquidity in its SOL and XRP futures markets. Traders and institutions can use the new options to manage exposure and hedge strategies. For product details, visit the CME Group website.

Positive

• Options on SOL and XRP launched with daily, monthly, quarterly expiries
• First XRP options block trade: Oct 12, 2025 (Wintermute–Superstate)
• First SOL options block trade: Oct 13, 2025 (Cumberland DRW–Galaxy)
• Expands listed crypto derivatives beyond BTC and ETH

Negative

• None.

Insights

Derivatives Strategist

CME launched options on SOL and XRP futures with first block trades recorded on October 12, 2025 and October 13, 2025.

The exchange now lists options on SOL, Micro SOL, XRP and Micro XRP futures with daily, monthly and quarterly expiries, and the first XRP and SOL options trades executed between named market participants were reported on October 12, 2025 and October 13, 2025 respectively. This extends the listed crypto derivatives suite beyond the previously listed contracts and gives market participants regulated, listed option instruments tied to these futures.

Key dependencies and risks include the actual liquidity and client adoption of these new option series; early block trades involved Wintermute, Superstate, Cumberland DRW and Galaxy, which shows institutional participation at launch but does not quantify ongoing volume or open interest. Watch trading volumes, open interest and how frequently daily/monthly/quarterly expiries trade over the next few weeks to assess sustained uptake; expect meaningful signals within the first 30-90 days after launch.

CHICAGO, Oct. 14, 2025 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, announced its new options on Solana (SOL) and XRP futures suite are now available for trading. Clients will now have the ability to trade options on SOL, Micro SOL, XRP, and Micro XRP futures, with daily, monthly and quarterly expiries available.

The first trade for options on XRP futures took place on Sunday, October 12 and was executed between Wintermute and Superstate. The first trade for options on SOL futures took place on Monday, October 13 and was executed between Cumberland DRW and Galaxy.

"As the crypto market continues to mature, market participants increasingly are looking to manage their exposure and pursue new opportunities across a wider range of crypto instruments," said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group. "With the deep liquidity we've built in our Solana and XRP futures markets, these new options provide traders with additional tools to further enhance their growing cryptocurrency investment and hedging strategies. We are pleased with the early support we've seen from a wide range of clients for these new contracts."

"Wintermute is proud to execute the first block trade in CME Group's XRP options with Superstate," said Ethan Ren, Head of Options at Wintermute Group. "The launch marks an important extension of listed crypto derivatives beyond BTC and ETH, reflecting growing sophistication in how market participants manage exposure. We see this as a positive signal for the continued evolution and depth of crypto options markets."

"We're pleased to have participated in the first CME Group XRP options block trade alongside Wintermute," said Saahith Pochiraju, Portfolio Manager at Superstate. "The launch of options on XRP futures expands the instruments available to manage and hedge digital asset exposure within strategies like our Superstate Crypto Carry fund. This development reflects growing institutional depth in crypto derivatives, and we're glad to support CME Group's ongoing efforts to broaden liquidity and market access."

"Cumberland is thrilled to facilitate the first block trade for options on SOL futures, which highlights the strong and growing demand for more ways to trade digital assets," said Roman Makarov, Head of Cumberland Options Trading at DRW. "Institutional participants are clearly seeking greater choice and depth in crypto markets — a trend that will continue to drive innovation across the ecosystem."

"We're proud to facilitate the first block trade on CME Group's SOL options, expanding institutional access to one of the fastest growing blockchain ecosystems," said Jason Urban, Global Head of Trading at Galaxy. "The addition of SOL and XRP options marks another important step in the evolution of regulated crypto derivatives, deepening liquidity and broadening the tools available to market participants."

For more information on these products, please visit www.cmegroup.com/cryptooptions.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners. 

CME-G

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SOURCE CME Group

FAQ

When did CME (CME) begin trading options on XRP futures?

The first XRP options trade took place on Oct 12, 2025 between Wintermute and Superstate.

When did CME (CME) begin trading options on Solana futures?

The first SOL options trade took place on Oct 13, 2025 between Cumberland DRW and Galaxy.

What expiries are available for CME's SOL and XRP options (CME)?

CME offers daily, monthly, and quarterly expiries for SOL, Micro SOL, XRP, and Micro XRP options.

How can CME (CME) options on SOL and XRP be used by investors?

Investors can use the new options to manage exposure and hedge cryptocurrency strategies using listed contracts.

Do CME's SOL and XRP options expand crypto derivatives beyond BTC and ETH?

Yes. CME said the launch extends listed crypto derivatives beyond BTC and ETH, broadening institutional access.

Where can investors find more information about CME (CME) crypto options?

Product details and specifications are available at www.cmegroup.com/cryptooptions.