CME: World’s Biggest Futures Exchange hosts Ripple’s XRP
CME Group is expected to roll out XRP futures next month and is awaiting regulatory approval. This comes after the corporation expanded its derivatives offer.
Quick overview
- CME Group plans to launch XRP futures next month, pending regulatory approval, following an expansion of its derivatives offerings.
- The introduction of XRP futures is influenced by a shift in U.S. regulatory attitudes and growing interest in XRP and its technology.
- If approved, this will mark the first time institutions can invest in Ripple-linked XRP, which has seen a recent price increase.
- Ripple CEO Brad Garlinghouse emphasized the significance of CME's launch for the ongoing expansion of the XRP market.
Live XRP/USD Chart
CME Group is expected to roll out XRP futures next month and is awaiting regulatory approval. This comes after the corporation expanded its derivatives offer.
Recall that CME launched Solana (SOL) futures in March, as well as Bitcoin (BTC) and Ethereum (ETH) futures and options, both of which have been trading for some time now.
CME’s decision to expand its crypto derivatives suite is seemingly linked to a shift in the U.S. regulatory attitude under President Donald Trump’s administration.
On April 24, CME reportedly stated that 2,500 XRP and 50,000 XRP contracts will be cash-settled based on the CME CF XRP-Dollar Reference Rate, which measures the value of XRP at 4 o’clock London time.
CME Group’s Global Head of Cryptocurrency Products, Giovanni Vicioso, explained the growing interest in XRP and its technology as a driving factor for the upcoming product launch.
Vicioso explained that “interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies.”
Institutions will be exposed to Ripple-linked XRP, the fourth-largest cryptocurrency by market capitalization, for the first time if approved. According to CoinGecko, it traded at $2.21 per coin following a 1.3% 24-hour decline. As part of a larger market recovery, it has increased by almost 15% in the last 14 days.
Brad Garlinghouse, CEO of Ripple, called the impending launch of CME “incredibly important.” According to Garlinghouse, it’s “an exciting step” in the XRP market’s ongoing expansion.
XRP ETF would expose experienced investors to the digital currency. Bitwise, Canary Capital, Franklin Templeton, Grayscale, and 21Shares are all requesting SEC approval for funds based on XRP.
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