XRP futures listing on CME Group introduces the token to a new wave of institutional investors

This latest milestone involves the listing of XRP and Micro XRP futures on the CME Group, which marks a notable milestone for the cryptocurrency.

XRP is about to start drawing a fresh wave of attention from institutional investors, following a major update that reflects the token’s growing relevance in the crypto market.

The latest milestone involves the listing of XRP and Micro XRP futures on the CME Group, which marks a notable milestone for the cryptocurrency.

This move introduces XRP to a regulated derivatives framework, which is typically preferred by asset managers, hedge funds, and other large-scale investors, placing it in the same category as Bitcoin and Ethereum. Both crypto behemoths saw improved investor interest and deeper market activity after their own CME futures listings.

As such, the launch of XRP and Micro XRP futures plays well into the current market dynamics for XRP, especially in terms of the token’s growing popularity among institutional investors.

Furthermore, the presence of XRP futures on the CME marketplace showcases the cryptocurrency’s maturation into a more structured financial asset, which could influence future decisions of the SEC around Spot XRP ETFs.

CME Group XRP futures are available in both a micro-sized (2,500 XRP) and a larger-sized contract (50,000 XRP). More than $19 million in notional volume was traded on the first day of launch, according to Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group.

After the futures launch, Ripple’s official account posted a public service warning highlighting a rise in scams targeting the XRP community.

The company urged users to stay alert, noting that no official Ripple representative would ever ask individuals to send XRP. The warning included a reminder to avoid suspicious links and noted the importance of verifying accounts before engaging.

This alert is based on a pattern in the crypto space, as scam activity tends to rise when markets are bullish. For instance, the New Zealand Police have arrested a Wellington man in connection with a crime syndicate that allegedly stole NZ$450 million ($265 million).

Crypto exchange Coinbase was also recently subjected to a phishing attack that resulted in the leak of a small fraction of user data.