The Expected Major XRP Announcement Has Arrived! "Date, May 19!"

The world's largest futures and options exchange CME Group today announced that it will launch XRP futures on May 19, pending regulatory approval.

Market participants will have the option to trade both a micro-sized contract of (2.500 XRP) and a larger-sized contract of (50.000 XRP).

XRP futures will participate in the company's crypto products, including Bitcoin (BTC) and Ethereum (ETH) futures and options, as well as the recently launched Solana (SOL) futures.

CME Group XRP futures contracts will be settled in cash, and the CME CF XRP-Dollar Reference Rate, which is used as the daily reference rate for the price of XRP in US dollars and is calculated daily at 16:00 London time, will be used.

So far, only Bitcoin, Ethereum, and Solana have futures products on CME and are being traded.

At this point, the approval of futures contracts is considered an important turning point for the approval of assets for spot ETFs. Indeed, one of the biggest obstacles to the approval of the XRP ETF has been seen as the absence of a futures market based on XRP.

CME Group Global Cryptocurrency Products President Giovanni Vicioso said the following:

As innovations in the digital asset landscape continue to evolve, market participants are looking towards regulated derivative products to manage risks across a broader range of tokens.

As institutional and retail adoption for the network increases, interest in XRP and its underlying ledger (XRPL) has grown significantly, and we are pleased to launch these new futures contracts to provide a capital-efficient toolkit to support our clients' investment and hedging strategies.

Sal Gilbertie, CEO of Teucrium, which launched the first XRP ETF in the US, said the following about CME's XRP move:

” XRP was specifically created for real financial use cases and today facilitates global value transfers through the fast, low-cost XRP Ledger.

Teucrium 2x Daily Long XRP ETF (XXRP) reached an AUM of 35 million dollars in the first 10 trading days.

The listing of XRP futures contracts organized by CME Group marks another milestone in the evolution of the ecosystem, and we aim to be active participants in supporting this growth.