FalconX Executes First-Ever Block Commerce for CME Solana Futures with StoneX Forward of Launch

Digital asset prime dealer FalconX has executed the first-ever block commerce for CME Group’s Solana futures, with monetary providers agency StoneX performing because the counterparty.

The transaction was accomplished only a day earlier than the official launch of SOL futures on March 17, in response to a Sunday press launch.

FalconX, primarily based in San Mateo, California, executed the commerce to facilitate institutional traders’ capability to handle threat and value publicity on a regulated platform.

“This commerce represents a major step in offering liquidity and hedging alternatives for institutional purchasers,” stated Josh Barkhordar, head of U.S. gross sales at FalconX, in an announcement.

Block Trades Facilitate Massive-Scale Transactions With out Market Disruptions

Block trades discuss with massive, privately negotiated transactions executed exterior the open market to stop main value disruptions.

These trades are generally utilized in derivatives markets to make sure clean execution for large-volume individuals.

CME Group launched Solana futures in late February in response to rising institutional demand for publicity to the asset.

The brand new derivatives are additionally seen as a possible stepping stone to a Solana exchange-traded fund (ETF), just like the pathway adopted by Bitcoin and Ethereum.

Futures markets for each belongings performed a crucial position within the lead-up to identify ETF approvals.

A number of asset managers have already submitted purposes to the U.S. Securities and Trade Fee (SEC) to launch Solana ETFs.

Franklin Templeton, managing over $1.5 trillion in belongings, filed its utility in February 2025.

Different corporations, together with Grayscale, 21Shares, Bitwise, VanEck, and Canary Capital, have additionally moved to ascertain spot Solana ETFs.

CME’s Solana futures contracts are available two sizes: customary contracts representing 500 SOL and micro contracts protecting 25 SOL.

The contracts are cash-settled primarily based on the CME CF Solana-Greenback Reference Fee, which is calculated each day at 4:00 p.m. London time.

This pricing mechanism supplies a clear benchmark for SOL’s worth in U.S. {dollars}.

FalconX stays a key liquidity supplier in CME’s crypto derivatives ecosystem.

The corporate stories having executed over $1.5 trillion in buying and selling quantity throughout greater than 400 tokens for round 600 institutional purchasers.

It has additionally expanded its institutional presence via acquisitions and partnerships.

FalconX Expands Institutional Presence

In January 2025, FalconX acquired derivatives buying and selling agency Arbelos Markets, adopted by a partnership with TP ICAP’s Fusion Digital Property in February 2024.

Final 12 months, the agency additionally unveiled a chief brokerage service designed to facilitate institutional traders’ buying and selling actions on exchanges whereas their funds stay securely held in regulated, bankruptcy-remote custody.

In the meantime, CME Group stories continued progress in its crypto derivatives market.

The common each day quantity for crypto contracts reached 202,000 in early 2025, marking a 73% improve year-over-year.

Open curiosity has additionally surged, with 243,600 contracts recorded—up 55% from the earlier 12 months. Greater than 11,300 distinctive accounts are actively buying and selling CME’s crypto merchandise.

On centralized crypto exchanges, Solana derivatives have seen a pointy rise in buying and selling exercise, with volumes surging 66% to $7.24 billion, in response to Coinglass.

Regardless of this, the asset stays below stress, buying and selling at $127, down 6.4% on the day, following its January excessive close to $293.31, as per CoinGecko knowledge.

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