CME Group launched XRP futures to offer regulated access to the fourth-largest digital asset by market value.
XRP futures and micro contracts are now available on CME Globex with cash settlement based on a reference rate.
The launch expands CME’s crypto offerings and may boost institutional interest in XRP despite Ripple's legal case.
The Chicago Mercantile Exchange (CME) Group launched XRP futures and Micro XRP futures today. With this move, CME is now able to offer derivatives based on the fourth-largest crypto asset.
https://twitter.com/MackAttackXRP/status/1924334223265001503 Futures Trading Begins on CME Globex
The new contracts became available on CME Globex and CME ClearPort starting Sunday evening, May 18. These contracts are cash-settled and priced based on the CME CF XRP-Dollar Reference Rate.
The standard XRP futures represent 50,000 XRP per contract. The Micro XRP futures represent 2,500 XRP per contract. CME set different fee structures based on participant types and trading venues.
CME Expands Regulated Crypto Offerings
CME confirmed its plan in April to launch XRP futures, pending regulatory approval. Early signs of the rollout appeared in January through unofficial leaks. This launch follows the March introduction of Solana futures on the platform.
With this addition, CME now offers regulated futures for Bitcoin, Ethereum, Solana, and XRP. The growing product range indicates increased demand for crypto investment tools among institutional players.
XRP Futures Target Institutional Traders
The launch gives institutional investors new exposure to XRP through a regulated channel. This can support both investment strategies and hedging positions.
Increased access to XRP through futures may improve liquidity and help establish a clearer price benchmark. These are important factors for institutions managing large portfolios or exploring entry into digital assets.
Ripple's Legal Case Adds Uncertainty
The launch is happening in the wake of Ripple’s legal battle with the U.S. Securities and Exchange Commission. A federal judge refused to grant the request to cut the proposed fine for Ripple.
The judge stated that by law, the motion could not alter the final judgment. Because of this, Ripple is still in legal limbo which could impact their dealings with regulators.
Spot ETF Approval Still Pending
Despite strong interest in crypto ETFs, the SEC has not yet approved a spot XRP ETF. Several asset managers have submitted applications, but the timeline remains unclear.
Brazil, however, recently launched its first XRP ETF, signaling growing international interest in the asset.
XRP Derivatives Volume Growing Rapidly
CME’s Q1 crypto derivatives volume increased 141% year-over-year. The daily average reached 198,000 contracts, with $11.3 billion in notional value. Open interest rose 83%, totaling $21.8 billion.
The launch of XRP futures may contribute to further growth in crypto derivatives volume across the exchange.
