Introduction to SOL and Micro SOL futures
What are SOL futures?
The SOL (SOL) futures contract and Micro SOL (MSL) futures contract, with respective ticker symbols SOL and MSL, are cash-settled contracts based on the CME CF Solana-Dollar Reference Rate (SOLUSD_RR), which serves as a once-a-day reference rate for the U.S. dollar price of SOL. The SOLUSD_RR aggregates the trade flow of cryptocurrency spot exchanges during a one-hour calculation window into the U.S. dollar price of one coin as of 4:00 p.m. London time.
The SOL and MSL futures contract trades Sunday through Friday, from 6:00 p.m. to 5:00 p.m. New York time.
What is Solana?
Solana is a blockchain that supports the development of decentralized applications with its own native digital currency for conducting transactions on the blockchain, and these coins are called SOL.
SOL is among the top ten cryptocurrencies with a total market cap exceeding $80 billion as of January 2025.
Understanding SOL futures
A single SOL futures contract represents 500 SOL and is quoted in U.S. dollars per one coin. The minimum tick increment is 0.05 U.S. dollars per coin, meaning a one-tick move of the SOL futures contract is equal to twenty-five U.S. dollars.
A single Micro SOL futures contract represents 25 SOL and is also quoted in U.S. dollars per one coin. The minimum tick increment is $0.05, meaning one tick movement equals $1.25.
SOL and MSL futures are block trade-eligible with a minimum quantity threshold of 5 contracts and 10 contracts, respectively.
SOL futures expire the last Friday of the month and six consecutive contracts plus four quarterly contracts are listed, inclusive of the nearest two December contracts.
Example
For example, assume it’s January and the six consecutive contract months are January, February, March, April, May and June. The four quarterly contracts would be September, December and March and June of the next year. In addition, a second December contract will also be listed.
This process continues throughout each year.
Summary
SOL is a large portion of the growing digital asset market. SOL futures provide market participants with transparency, price discovery and risk management capabilities.
Both the SOL and the Micro SOL futures contracts allow individuals to access the SOL market as well as hedge any direct exposure to SOL price risk.
For more information about SOL and Micro SOL futures, please visit cmegroup.com/solfutures.
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