Ripple CEO Brad Garlinghouse Reacts to the Launch of XRP Futures on CME Group's Trading Platform

This suggests that although XRP has existed since 2012 and has recorded increased volumes, derivative marketplaces like CME Group have stalled in launching future products for the coin.

Brad Garlinghouse, CEO of Ripple, has reacted to the upcoming launch of XRP futures on CME Group’s trading platform, suggesting that the product is long overdue.

In a statement yesterday, the Ripple CEO acknowledged the delay in launching XRP futures, noting that the product is ‘overdue in a bunch of ways.’

This suggests that although XRP has existed since 2012 and has seen increased volumes, derivative marketplaces like CME Group have been slow to launch future products for the coin. Despite this delay, Garlinghouse described CME Group’s XRP futures as a crucial step in enhancing the growth of the XRP market.

“It’s incredibly important for XRP growth to have CME Group’s futures product launch. We’re excited about this product and believe it will bring new levels of institutional participation to the XRP market. Having professional investors and hedge funds be able to easily allocate to XRP through CME Group is a huge moment for the broader crypto ecosystem,” Garlinghouse said.

CME Group’s XRP futures could open doors for professional investors and hedge funds to adopt XRP. The product would also provide a regulated way for investors to gain exposure to XRP, while also setting the stage for future offerings like spot ETFs.

CME Confirms XRP Futures Launch

Garlinghouse’s statement comes a few hours after CME Group confirmed that it would be launching XRP futures on its trading platform. As The Crypto Basic reported, CME Group will launch the XRP futures on May 19, pending regulatory approval from the U.S. CFTC.

The product would give investors indirect exposure to XRP as they can hedge against its future price movement without needing to own it or set up a blockchain wallet.

CME Group’s XRP futures will come in two separate contract sizes: Micro XRP futures (MXP) and XRP futures (XRP). The latter is designed for institutional players, with a contract size of 50,000 XRP. In comparison, the micro version is suitable for retail investors, boasting a contract size of 2,500 XRP.

The futures will also be cash-settled, meaning that investors will receive cash instead of physical XRP when the contract expires.

CME Becomes Third Derivatives Exchange to Launch XRP Futures

Once the product goes live on May 19, CME Group will become the third derivative marketplace to launch XRP futures in the United States. Bitnomial and Coinbase already offer similar XRP products to U.S. investors.

While Bitnomial launched its XRP futures on March 20, Coinbase rolled out the product on April 21. Notably, the upcoming launch of XRP futures on CME Group is significant for the coin, given that the platform is the largest derivatives exchange in the world.

For context, CME, which currently offers three crypto futures tied to Bitcoin, Ethereum, and Solana, recorded an average trading volume of 198,000 contracts in Q1 2025.

Given CME’s position in the derivatives market, its decision to launch XRP futures would further enhance the coin’s credibility, potentially leading to the continued growth of the XRP market, as Garlinghouse suggests.

The futures product could also facilitate the launch of the XRP ETF in the United States. It is worth noting that the SEC usually considers whether a crypto asset has a futures product before it approves it for an ETF. The SEC followed this measure when it approved Bitcoin and Ethereum for spot ETFs last year.