CME Group to Launch XRP Futures Contracts
CME Group has announced the upcoming launch of new futures contracts based on the popular payments altcoin XRP. The derivatives marketplace giant is set to introduce two types of contracts – a micro-sized contract valued at 2,500 XRP and a larger-sized contract worth 50,000 XRP.
Regulatory Review and Launch Date
The launch date for these XRP futures contracts is scheduled for May 19th, pending regulatory review. Giovanni Vicioso, CME’s global head of crypto products, emphasized that the introduction of these new products is driven by the increasing demand from clients for regulated digital asset products.
Expansion of Crypto Derivatives Suite
CME Group has been steadily expanding its crypto derivatives suite. The firm initially launched Bitcoin futures in 2020, followed by Ethereum futures in 2022, and most recently, Solana-based contracts. These offerings provide investors with capital-efficient tools to support their investment and hedging strategies in the digital asset space.
Market Performance of XRP
At the time of writing, XRP is trading at $2.19. Despite a slight dip in the past 24 hours, the fourth-ranked cryptocurrency by market cap has shown a nearly 6% increase over the past week. The addition of XRP futures contracts by CME Group could further enhance the trading opportunities and liquidity for this popular altcoin.
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