CME Group Announces XRP Futures Launch

In a significant move for the cryptocurrency market, CME Group revealed its plans to introduce XRP futures on May 19, pending regulatory approval. This initiative marks a pivotal step in broadening access to regulated crypto derivatives.

Contract Details and Settlement

The futures contracts will be available in two distinct sizes: 2,500 and 50,000 XRP, catering to a wide range of investors. Settlements will be cash-based, utilizing the CME CF XRP-Dollar Reference Rate, which is calculated daily at 4:00 pm, London time.

Growing Interest in XRP

Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, highlighted the increasing interest in XRP and its underlying ledger, XRPL. "With the rise in both institutional and retail adoption, we're excited to offer these futures contracts as a capital-efficient tool for investment and hedging strategies," Vicioso stated.