Cardano (ADA), Solana (SOL), Polkadot (DOT), and several other popular altcoins will have reference rates and real-time indices—which could lay the groundwork for more ETFs and derivative products—by the end of the month.

The CME Group, which runs the Chicago-based derivatives exchange that goes by the same name, has teamed up with CF Benchmarks, a cryptocurrency index provider, to roll out the new rates on April 25.

The new reference rates will include index pricing for Algorand (ALGO), Bitcoin Cash (BCH), Cardano, Chainlink (LINK), Cosmos (ATOM), Litecoin (LTC), Polkadot, Polygon (MATIC), Solana, Stellar Lumens (XLM) and Uniswap (UNI).

The reference rates and indices themselves are not tradable investment products. As the name suggests, a reference rate is price data for an asset. But having that data available is an important prerequisite for offering products like ETFs and futures contracts.

At launch, price data for the indices will be provided by Bitstamp, Coinbase, Gemini, itBit, and Kraken. 

“These new benchmarks, which capture 90% of the total investable cryptocurrency market cap today, are designed to allow traders, institutions and other users to confidently and more accurately manage cryptocurrency price risk, price portfolios or create structured products like ETFs,” said Tim McCourt, CME’s head of equity and FX products, in a press release.

ETFs, or exchange traded funds, bundle together assets and sell shares to investors. It’s a way to get exposure to the underlying assets without owning them directly. Futures contracts speculate on the…

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