Coinbase Launches Solana & Hedera Futures Amid Crypto ETF Buzz
Coinbase announced on Tuesday that its derivatives exchange now offers futures contracts for Solana (SOL) and Hedera (HBAR), alongside EURC-USDC perpetual futures, expanding its suite of crypto investment products and positioning itself as a key player in both digital assets and foreign exchange markets.
Solana and Hedera Futures: A Move Toward Mainstream Adoption
The launch of Solana and Hedera futures comes as the U.S. Securities and Exchange Commission (SEC) weighs multiple applications for spot crypto exchange-traded funds (ETFs), including those tied to Solana, amid rising optimism for broader crypto acceptance.
The new Solana and Hedera futures contracts are designed to cater to a range of market participants with specific contract sizes:
- Nano Solana Futures (SOL): 5 SOL per contract
- Solana Futures (SLC): 100 SOL per contract
- Hedera Futures (HED): 5,000 HBAR per contract
Regulated by the Commodity Futures Trading Commission (CFTC), Coinbase’s derivatives arm now supports futures contracts for 19 total assets, including Dogecoin, Litecoin, and gold, underscoring the exchange’s push to meet growing investor demand for diverse, regulated crypto investment products.
The SEC recently began evaluating applications for Solana ETFs, with a 21-day comment period already underway. While the final decision could take up to 240 days, the acknowledgment of these filings highlights a pivotal shift toward integrating more crypto assets into the mainstream financial ecosystem.
Coinbase’s ability to offer regulated futures products for Solana could influence the SEC’s stance on spot ETF approvals. Historically, the agency has considered the existence of a regulated futures market as a safeguard against fraud and manipulation when approving spot Bitcoin and Ethereum ETFs.
“All commodity-based ETPs, [or] exchange-traded products, have had a regulated futures market,” Bitwise CIO Matt Hougan told Decrypt.
However, according to Gabe Shelby, head of research at CF Benchmarks, that may change. “It’s very likely that we get to a point where a regulated futures market isn’t entirely necessary to launch additional tokens,” he explained. “That’s a real possibility with this new regime.”
EURC-USDC Perpetual Futures: Expanding into the FX Market
Alongside Solana and Hedera futures, Coinbase also introduced EURC-USDC perpetual futures, designed to provide traders with 24/7 Euro price exposure through crypto rails. The foreign exchange (FX) market, with its $7.5 trillion in daily trading volume, is one of the largest and most liquid financial markets in the world, and Coinbase seeks to capture a portion of that activity with its new offering.
According to Coinbase, EURC perpetual futures present an alternative to traditional FX trading, offering a seamless way to unlock value on decentralized financial infrastructure. The contracts feature up to 20x leverage for enhanced capital efficiency and instant settlement. Since these perpetual futures do not expire, traders can maintain continuous Euro price exposure without the need to roll contracts forward.
Eligible non-U.S. institutions can access EURC-PERP on Coinbase International Exchange, while eligible non-U.S. retail investors can trade on Coinbase Advanced.
A Strategic Move Amid Regulatory Shifts
The timing of these launches is notable. Coinbase’s derivatives expansion comes as the SEC reconsiders its approach to digital assets in the wake of former Chair Gary Gensler’s resignation. With the SEC expressing interest in working with the CFTC under new leadership to establish clearer crypto regulations, Coinbase’s ability to offer regulated Solana futures could play a role in shaping how the agency assesses and approves spot crypto ETFs beyond Bitcoin and Ethereum.
Coinbase emphasized that this is just the beginning of its derivatives expansion, with plans to roll out new contract listings, enhanced trading tools, and risk management features designed to meet the evolving needs of investors.
As crypto ETFs, perpetual futures, and regulatory frameworks evolve, Coinbase appears well-positioned to bridge the gap between traditional and digital finance—a strategic play that could redefine global markets.
Will these new offerings accelerate mainstream adoption of digital assets, or is the market moving too fast for its own good? Time will tell, but for now, Coinbase seems to be betting big on a crypto-centric financial future.
