CME Group rolls out the XRP futures on May 19 as it continues to expand its package of cryptocurrency products, the world’s largest derivative exchange said, in a press release.
In pending regulatory approval, dealers will be able to trade two contract sizes: 2,500 XRP and 50,000 XRP. The contracts will be in cash and based on CME CF XRP dollar reference, which tracks XRP’s award daily at. 16.00 London Time.
“As innovation in the digital asset landscape continues to develop, market participants continue to look out to regulated derivatives for controlling risks across a wider range of symbols,” said Giovanni Vicioso, global leader of cryptocurrency products at CME Group.
“The interest in XRP and its underlying Headbook (XRPL) has steadily increased as the institutional adoption of the network is growing, and we are pleased to launch these new future contracts to provide a capital -efficient tool set to support clients’ investments and cover strategies.”
The move comes after CME launched Solana (Sol) futures in March in addition to Bitcoin (BTC) and Ethereum (ETH) futures and opportunities that have been trading on the stock exchange for a while.
