Ripple CEO Brad Garlinghouse has additionally responded to CME Group’s XRP futures announcement, describing the launch as “extremely essential.”
Garlinghouse claims that it’s “an thrilling step” within the continued progress of the XRP market.
As reported by U.As we speak, CME Group introduced that the product could be launched on Could 19.
Though CME Group shouldn’t be the primary market participant to introduce regulated XRP futures however it’s definitely the most important one. Therefore, the launch of the aforementioned futures product will probably be a watershed second for the XRP token.
In response to the info supplied by analytics agency CoinGlas, CME Group accounts for the most important share of the Bitcoin futures open curiosity ($13.14 billion out of $65 billion). It’s forward of such crypto-native giants as Binance and OKX.
CME Group launched Bitcoin futures again in January 2018, which coincided with the beginning of a devastating bear market.
In February 2021, the Chicago-based derivatives behemoth launched Ethereum (ETH) futures. CME Group’s present Ethereum futures OI stands at $1.32 billion.
The SEC authorized spot-based Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) in 2024.
The dearth of regulated futures was seen as a significant hindrance to the approval of a spot XRP ETF. With this out of the way in which, the percentages of an XRP ETF being authorized in 2025 by the brand new SEC administration are extraordinarily excessive.
As reported by U.As we speak, XRP and Solana are within the lead by the variety of ETF filings within the U.S.