CME Group is launching new futures contracts based mostly on the funds altcoin XRP.
The derivatives market large says in a brand new announcement that it is going to be rolling out a micro-sized XRP-based futures contract price 2,500 XRP and a larger-sized one price 50,000 XRP.
The launch date is scheduled for Might nineteenth, however the agency notes each contracts are nonetheless pending regulatory evaluate.
Giovanni Vicioso, CME’s world head of crypto merchandise, says the brand new product rollout is because of burgeoning consumer demand for regulated merchandise based mostly on digital property.
“Curiosity in XRP and its underlying ledger (XRPL) has steadily elevated as institutional and retail adoption for the community grows, and we’re happy to launch these new futures contracts to supply a capital-efficient toolset to assist purchasers’ funding and hedging methods.”
CME Group first launched Bitcoin (BTC) futures in 2020 and Ethereum (ETH) futures in 2022, and in March, {the marketplace} added Solana (SOL)-based contracts. The monetary providers agency’s futures merchandise began rolling out on the retail buying and selling large Robinhood in January.
XRP is buying and selling at $2.19 at time of writing. The fourth-ranked crypto asset by market cap is down greater than 1.5% prior to now 24 hours however is up almost 6% prior to now week.
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