CME Group (CME)The world’s largest derivative exchange is by steering free of meme -even when issuers stand to bring more speculative tokens into mainstream financing.
While asset leaders like Vaneck and 21Shares push to launch spot exchange-traded products (ETPS) Tied to coins like Dogecoin
and Trump -coin (Trump)CME takes another route.
“We are launching these products based on underlying coins and symbols that have a use case, so I do not expect us to do anything in the Meme coin -room as the use case for such products is really not there,” said Gio Vicioso, CME’s global chief of cryptocurrency products.
Instead, CME is focused on tokens it sees as fundamental to blockchain infrastructure. In recent months, the company expanded its crypto derivators lineup to include Solana
and XRP in addition to its existing Bitcoin and Ethereum offerings.
This effort seems to pay off. Since launching in February, Sol Futures has moved close to $ 5 billion, with daily trading on average between $ 75 million and $ 100 million. XRP Futures, who debuted in May, saw a record $ 235 million in volume last Friday and has crossed almost $ 2 billion in volume to date.
The products are trading with a regular weekly schedule-from Sunday at. 18 one to Friday at. 17 One-with-one hour hour’s daily maintenance window. This setup contrasts with the always-on-character of spot crypto markets, as some US exchanges start repeating to attract cryptoxavvy dealers.
Larger US stock exchanges like Nasdaq and New York Stock Exchange (SNEEZE) are already several steps to adapt their infrastructure to 24/7 trading for the purpose of better serving market participants who are active in crypto and other rapidly moving asset classes. While CME has not filed any formal obligations, it lasts closely. “It’s something we explore, but no plans yet,” Vicioso said. “As we continue to see the maturity of space, and we continue to see interest build up in our products, I think it is important for us to consider covering the gap that is now found between Friday night and Sunday night.”
