Key Takeaways
- CME Group plans to debut XRP futures on May 19, pending regulatory review.
- The futures will be cash-settled and expand CME’s crypto product offerings alongside Bitcoin and Ether futures.
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CME Group, the world’s top-tier operator of derivatives exchanges, is planning to roll out XRP futures on May 19, pending regulatory review, the company shared in a Thursday announcement.
CME will offer both micro-sized contracts of 2,500 XRP and large-sized contracts of 50,000 XRP. These contracts will be cash-settled based on the CME CF XRP-Dollar Reference Rate, calculated daily at 4:00 p.m. London time.
The announcement appears to corroborate a prior leak from the exchange’s staging website, which mentioned a February 10 launch of XRP and Solana futures. CME later clarified that the information was incorrect and that no formal plans had been confirmed.
Giovanni Vicioso, who oversees CME’s crypto product strategies, pointed to the increasing interest in XRP and its technology as the key reason for the upcoming product launch. The company wants to give investors a more efficient way to gain exposure to XRP, now ranking as the fourth-largest crypto asset by market cap.
“Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies,” Vicioso said in a statement.
The addition of XRP futures expands CME’s crypto product suite, which includes Bitcoin and Ether futures and options, along with the recently launched SOL futures.
CME Group reported that in Q1, average daily volume in crypto futures and options reached 198,000 contracts—equivalent to $11.3 billion in notional value—representing a 141% increase year-over-year. Average open interest rose to 251,000 contracts, up 83% from the same quarter last year.
“Bringing CME Group XRP futures to Robinhood is a natural next step in our mission to expand retail access to futures trading,” said JB Mackenzie, VP and GM of Futures and International at Robinhood.
“XRP was purpose-built for real financial use cases and today facilitates global value transfers through the fast, low-cost XRP Ledger,” said Sal Gilbertie, CEO of Teucrium. The company’s 2x Daily Long XRP ETF reached $35 million in assets under management in its first 10 trading days.
This is a developing story.
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