CME Group Is Rolling Out XRP Futures on May 19th

CME Group is rolling out XRP futures on May 19th as it continues to expand its suite of cryptocurrency products

CME Group will launch XRP futures on Friday, May 19, pending regulatory approval. The two contract sizes will be 2,500 XRP and 50,000 XRP. The contracts will be cash-settled and linked to the CME CF XRP-Dollar Reference Rate, an efficient benchmark price for XRP that is set daily at 4:00 p.m. London time.

“As innovation in the digital asset landscape continues to evolve, market participants continue to look to regulated derivatives products to manage risks across a wider range of tokens,” said Giovanni Vicioso, global head of cryptocurrency products at CME Group.

“Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies.”

The move comes as CME continues to expand its suite of cryptocurrency products. Earlier this year, CME launched Solana (SOL) futures. BTC and ETH futures and options have been trading on the exchange since 2017 and 2019, respectively.output: CME Group, the world’s largest derivatives exchange, is launching XRP futures on Friday, May 19, according to a press release.

The two contract sizes will be 2,500 XRP and 50,000 XRP. The contracts will be cash-settled and linked to the CME CF XRP-Dollar Reference Rate, an efficient benchmark price for XRP that is set daily at 4:00 p.m. London time.

“As innovation in the digital asset landscape continues to evolve, market participants continue to look to regulated derivatives products to manage risks across a wider range of tokens,” said Giovanni Vicioso, global head of cryptocurrency products at CME Group.

“Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies.”

The move comes as CME continues to expand its suite of cryptocurrency products. Earlier this year, CME launched Solana (SOL) futures. BTC and ETH futures and options have been trading on the exchange since 2017 and 2019, respectively.