CME Group to Launch XRP Futures on May 19, Expanding Crypto Offerings
Pending regulatory approval, CME Group, based on the world market in derivatives trading, prepares to launch XRP futures contracts on May 19. This is once again a milestone for CME’s regulated products expansion in terms of crypto. Not to forget, it is in line with the successful launches of Bitcoin, Ether, and most recently, SOL futures. Along with that, with the increasing demand for secured and transparent access to digital assets from institutional investors, this new product presents itself further.
XRP Futures: quite a range futures contract.
There shall be two contract sizes available for XRP futures from CME. The micro contract will represent 2,500 XRP, whilst the large contract will price with 50,000 XRP. Both practically cash settled against the CME CF XRP-Dollar Reference Rate for pricing transparent and consistent. This structure primarily serves traders across the spectrum-retail to institutional-seeking effective tools to hedge or invest.
XRP runs high amid rising acceptance from both retail and institutional. “We are excited to offer these new futures contracts to support clients’ investment and hedging strategies,” says Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group.
Strong Momentum of the Crypto Derivatives Market
Launching XRP futures would nicely cap off a strong first quarter for CME in the Crypto Derivatives space. The platform averaged daily volumes of 198,000 contracts, amounting to an estimated notional value of USD 11.3 billion. Open interest stood at some USD 21.8 billion. Meanwhile, SOL futures have also started trading, as 43,000 contracts traded through March. All these developments reaffirm strong interest in diversified crypto products.
Conclusion
The new XRP futures will definitely add to CME Group’s already strong footing-the regulated marketplace for digital assets. For sure, with these newer and trusted instruments, CME will spearhead the demand for easy, institutional-friendly crypto penetration. This strides forward bring CME yet another step closer to its goal of becoming a trusted provider in the emerging digital economy.
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