The launch date of XRP futures contracts on the CME exchange is approaching next month
The CME Group is preparing to launch XRP futures contracts on May 19, a new step to enhance its offerings in the regulated cryptocurrency derivatives space, following the recent listing of Solana contracts.
The move remains contingent on obtaining the necessary regulatory approvals.
Despite the announcement, the price of XRP has not seen a significant movement, remaining steady at $2.20 with a weekly increase of 6%.
XRP currently ranks fourth in terms of market capitalization at $128 billion.
According to “Giovanni Viscuso” from CME, this launch comes in response to the increasing demand for regulated derivative instruments that help in managing risks.
The new contracts will be available in two sizes: 2,500 and 50,000 XRP, and are settled in cash based on the CME's daily reference price.
It is noted that the trading volume of XRP-related derivatives through CME has increased by 141% year-over-year, reaching $11.3 billion in the first quarter.