Catenaa, Monday, March 24, 2025 – FalconX, a digital asset prime broker, has executed the first-ever block trade for CME Group’s Solana futures, with financial services firm StoneX acting as the counterparty. This landmark transaction occurred just ahead of the official launch of Solana futures on March 17, 2025.
The block trade, a large privately negotiated transaction outside the open market, was designed to ensure smooth execution for institutional investors. According to Josh Barkhordar, head of U.S. sales at FalconX, the trade marks a significant step in providing liquidity and hedging opportunities for clients.
CME Group introduced Solana futures in response to growing institutional demand for exposure to the cryptocurrency. The futures come in two sizes: standard contracts representing 500 SOL and micro contracts covering 25 SOL, both cash-settled based on the CME CF Solana-Dollar Reference Rate.
This development signals a growing interest in Solana, with asset managers filing applications for a Solana exchange-traded fund (ETF), following the path set by Bitcoin and Ethereum. Firms like Franklin Templeton and Grayscale are already working on ETF proposals.
FalconX, a major liquidity provider in CME’s crypto derivatives market, has executed over $1.5 trillion in trades across 400+ tokens. The firm continues to expand its institutional presence through strategic acquisitions and partnerships.
Meanwhile, CME Group has reported a significant uptick in its crypto derivatives market, with average daily volume up by 73% in early 2025 compared to the previous year.
