CME Group to Launch XRP Futures on May 19, Expanding Crypto Offerings

CME Group, the world’s largest derivatives marketplace, has announced plans to launch XRP futures contracts on May 19, pending regulatory approval. This move is expected to enhance trading opportunities for both institutional and retail investors, providing them with innovative tools to manage their exposure to the digital asset landscape.

The new XRP futures will be available in two contract sizes: a micro-sized contract of 2,500 XRP and a larger contract of 50,000 XRP. Giovanni Vicioso, Global Head of Cryptocurrency Products at cme group, emphasized the growing interest in XRP and its underlying ledger, the XRP Ledger (XRPL).

“As innovation in the digital asset landscape continues to evolve, market participants look to regulated derivatives products to manage risks across a wider range of tokens,” Vicioso noted. The introduction of these XRP futures contracts aims to offer a capital-efficient way for clients to implement their investment and hedging strategies. These futures will be cash-settled and based on the CME CF XRP-Dollar Reference Rate, which provides a daily assessment of XRP’s value against the US dollar, calculated each day at 4:00 PM London time, ensuring that the pricing remains transparent and reflective of the market conditions.

The XRP futures will join CME Group’s expanding suite of cryptocurrency offerings, which already includes futures and options for Bitcoin (BTC), Ethereum (ETH), and recently introduced Solana (SOL).

In a related development, Robinhood has expressed its intent to offer CME Group’s XRP futures, expanding access for retail investors. JB Mackenzie, VP and GM of Futures and International at Robinhood, stated, “Our customers have shown a deep interest in digital assets, and they will soon be able to access an even wider variety of crypto futures.” This integration will allow Robinhood users to trade up to 40 futures products, utilizing a mobile trading platform designed for speed and precision similar to that of institutional traders.

The demand for regulated access to digital assets is underscored by the recent success of the Teucrium 2x Daily Long XXRP ETF, which achieved $35 million in assets under management within its first ten trading days. Sal Gilbertie, CEO of Teucrium, highlighted the importance of XRP, stating, “XRP was purpose-built for real financial use cases and today facilitates global value transfers through the fast, low-cost XRP Ledger.” He views the upcoming listing of XRP futures by CME Group as a pivotal milestone in the evolution of the cryptocurrency ecosystem.