FalconX, a leading prime broker for digital assets, and StoneX, a global financial services company, have successfully executed the first-ever block trade of CME Group’s newly introduced Solana futures. This milestone transaction, as reported in a press statement on Mar. 16, highlights the increasing demand for regulated digital asset investments like Solana (SOL) and further cements FalconX’s position as a key player in institutional cryptocurrency trading.
CME Group, the world’s largest derivatives exchange, launched SOL futures on Feb. 28 to provide investors with a way to trade Solana’s price movements without actually owning the asset. These futures are cash-settled and are available in two sizes: 500 SOL for standard contracts and 25 SOL for micro contracts. Their prices are based on the CME CF Solana-Dollar Reference, which offers a daily reference rate of the U.S. dollar price of Solana, calculated at 4:00 p.m. London time.
Block trades, such as the one conducted by StoneX and FalconX, allow institutions to execute large transactions without causing significant market impact. Josh Barkhordar, FalconX’s head of U.S. sales, emphasized the importance of this block trade in facilitating crypto trading for institutions. Eric Rose, StoneX’s head of digital asset execution, expressed the company’s commitment to expanding institutional access to cryptocurrency through regulated trading options.
The growth of CME’s crypto futures market has been remarkable, with the average daily trading volume reaching 202,000 contracts in early 2025, a 73% increase from the previous year. Open interest also surged by 55% to 243,600 contracts, with more than 11,300 unique accounts participating in trading CME’s crypto products. The introduction of SOL futures comes at a time when interest in a Solana exchange-traded fund (ETF) is on the rise, with major asset managers like Franklin Templeton, Grayscale, and others filing for spot Solana ETFs.
Analysts believe that CME’s SOL futures could pave the way for the approval of SOL ETFs, similar to what happened with Bitcoin (BTC) and Ethereum (ETH) ETFs. This development signifies a significant step towards mainstream adoption of Solana and other digital assets in the institutional investment space.
In conclusion, the successful execution of the first block trade of CME’s SOL futures by FalconX and StoneX marks a significant milestone in institutional crypto adoption and the expansion of regulated derivatives in the digital asset market. This achievement underscores the growing interest and demand for digital asset investments among institutional investors, further solidifying the position of FalconX and StoneX as key players in the evolving landscape of cryptocurrency trading.