CME Group, the world’s largest derivatives market, is increasing its digital asset lineup with the launch of XRP futures, set to go reside on Might 19, pending regulatory approval.
The transfer displays rising institutional and retail curiosity in XRP and its underlying community, the XRP Ledger (XRPL).
The alternate will supply two contract sizes: a micro contract representing 2,500 XRP and a bigger contract representing 50,000 XRP. Each will probably be cash-settled, utilizing the CME CF XRP-Greenback Reference Price, which calculates the U.S. greenback value of XRP each day at 4:00 p.m. London time.
Giovanni Vicioso, CME’s International Head of Cryptocurrency Merchandise, mentioned the launch is available in response to “rising adoption” and a rising urge for food for instruments to handle danger throughout a broader vary of crypto tokens. “These futures contracts supply shoppers a capital-efficient answer for hedging and publicity to XRP,” he famous.
XRP Entry Coming to Robinhood Customers
In tandem with the launch, Robinhood will make CME’s XRP futures obtainable to its customers. JB Mackenzie, Vice President and Normal Supervisor of Futures and Worldwide at Robinhood, mentioned the combination will broaden the app’s crypto choices whereas making futures buying and selling extra accessible to retail buyers.
“Clients have proven rising curiosity in digital property, and we’re excited to supply them extra instruments with the pace and precision often reserved for institutional gamers,” Mackenzie mentioned.
