CME Group is launching new futures contracts based mostly on the funds altcoin XRP.
The derivatives market big says in a new announcement that it will likely be rolling out a micro-sized XRP-based futures contract value 2,500 XRP and a larger-sized one value 50,000 XRP.
The launch date is scheduled for Could nineteenth, however the agency notes each contracts are nonetheless pending regulatory evaluation.
Giovanni Vicioso, CME’s world head of crypto merchandise, says the brand new product rollout is because of burgeoning shopper demand for regulated merchandise based mostly on digital property.
“Curiosity in XRP and its underlying ledger (XRPL) has steadily elevated as institutional and retail adoption for the community grows, and we’re happy to launch these new futures contracts to supply a capital-efficient toolset to help shoppers’ funding and hedging methods.”
CME Group first launched Bitcoin (BTC) futures in 2020 and Ethereum (ETH) futures in 2022, and in March, {the marketplace} added Solana (SOL)-based contracts. The monetary providers agency’s futures merchandise began rolling out on the retail buying and selling big Robinhood in January.
XRP is buying and selling at $2.19 at time of writing. The fourth-ranked crypto asset by market cap is down greater than 1.5% up to now 24 hours however is up almost 6% up to now week.
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