CME Group, the largest derivatives marketplace, has plans to list XRP futures on May 19, subject to regulatory approval.
With these new products, CME Group hopes to meet the growing demand for XRP, the cryptocurrency utilized by the XRP Ledger (XRPL), which is becoming more and more popular among institutional and retail investors.
As per the announcement, the XRP futures will be available in two sizes: a micro contract covering 2,500 XRP and a larger contract covering 50,000 XRP.
These contracts will be cash-settled, meaning traders won’t receive actual XRP but instead the cash value at the time of settlement. The pricing will be based on the CME CF XRP-Dollar Reference Rate, calculated daily at 4:00 p.m. London time.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, said the launch is a response to growing market interest in XRP and the broader XRPL ecosystem. “As innovation in digital assets continues, investors seek regulated tools to manage risk. XRP’s increasing adoption makes this an ideal time to introduce these futures,” he said.
XRP joins CME’s growing suite of crypto products, which includes futures and options for Bitcoin, Ether, and the recently launched Solana (SOL) futures. In the first quarter of the year, trading activity in these crypto futures and options saw big growth:
- An average of 198,000 contracts were traded daily, worth about $11.3 billion, up 141% year-over-year.
- Open interest averaged 251,000, with a total value of $21.8 billion, up 83% from the year before.
- Since launching on March 17, more than 43,000 contracts have been traded, totaling around $705 million.
Robinhood, the popular trading app, is also planning to offer CME Group’s XRP futures. JB Mackenzie, VP at Robinhood, said this will give retail traders easier access to futures through their mobile platform, expanding the app’s current lineup of 40 futures products.
Sal Gilbertie, CEO of Teucrium, which issued the new 2x Daily Long XRP ETF (XXRP), greeted the news. He added that the fund amassed $35 million in assets in 10 days, evidencing strong interest in XRP. Gilbertie referred to the action by CME as “another milestone” for XRP and stated Teucrium intends to actively support the futures market.
This launch signals continued institutional interest in digital assets and could further legitimize XRP as a key player in the crypto economy.
Also Read: Coinbase Derivatives Files for XRP Futures with CFTC
