- Coinbase launches CFTC-regulated Solana (SOL) futures.
- The launch of the regulated Solana futures contracts is seen as a pointer to Solana ETF approval in the US.
- Coinbase is pushing for Commodity Futures Trading Commission (CFTC) spot market control.
Coinbase has launched Solana (SOL) and Hedera (HBAR) futures contracts on its US derivatives exchange, regulated by the Commodity Futures Trading Commission (CFTC).
By offering regulated futures contracts, Coinbase provides a structured environment for investors to engage with SOL and HBAR, potentially leading to increased liquidity and stability in the digital assets’ market.
The Solana futures contracts include standard offerings representing 100 SOL, alongside “nano” contracts tailored for retail investors, each representing 5 SOL, making it more accessible for a broader range of market participants.
A step towards Solana (SOL) ETFs
The launch of regulated futures markets for Solana (SOL), is particularly seen as a crucial step towards the eventual introduction of a Solana Exchange-Traded Fund (ETF) in the United States.
Futures markets provide a benchmark for measuring the performance of digital assets, which is essential for the approval and operation of spot ETFs.
With at least five ETF issuers already having filed with the SEC for spot Solana ETFs, the regulator’s decision deadline set for October 2025, and Bloomberg Intelligence estimating a 70% approval probability, the futures contracts might pave the way for these financial products.
Notably, Coinbase’s push for CFTC oversight over spot markets is part of a broader industry effort to redefine regulatory frameworks for cryptocurrencies.
Chief Policy Officer Faryar Shirzad of Coinbase has submitted a proposal advocating for Congress to grant the CFTC full authority over spot markets, arguing that digital assets like Bitcoin and Ethereum should be treated as commodities. In his proposal, Shirzad outlined a six-point legislative agenda aimed at providing clarity and consumer protection.
However, while advocating for a larger role for the CFTC, Coinbase acknowledges the SEC’s importance, particularly in creating rules for capital raising in the crypto sector. This nuanced approach suggests a future where both regulatory bodies could collaborate…