In brief
- CME Group on Thursday said it would debut XRP futures on its derivatives marketplace.
- The new product will allow clients to trade contracts of 2,500 XRP and 50,000 XRP.
- XRP is the fourth biggest cryptocurrency by market cap.
CME Group on Thursday said it would introduce XRP futures on its derivatives marketplace for clients on May 19, the company announced Thursday.
The new product will allow clients to trade both a micro-sized contract of 2,500 XRP, and a larger-sized contract of 50,000 XRP.
“As innovation in the digital asset landscape continues to evolve, market participants continue to look to regulated derivatives products to manage risks across a wider range of tokens,” Giovanni Vicioso, CME Group’s global head of cryptocurrency products, said in a statement. “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 support clients’ investment and hedging strategies.”
XRP is the fourth biggest cryptocurrency with a $126.6 billion market capitalization. It was recently trading for $2.19 per coin after a 4% 24-hour dip, according to CoinGecko. It is up more than 9% over the past 14 days, part of a wider market upswing.
The coin was created by the founders of fintech company Ripple Labs, and was designed with the intent of moving money across borders in a faster, more efficient way.
“XRP was purpose-built for real financial use cases and today facilitates global value transfers through the fast, low-cost XRP Ledger,” Sal Gilbertie, CEO of fund issuer Teucrium, said in a statement. “The listing of regulated XRP futures by CME Group marks another milestone in the ecosystem’s evolution, and we intend to be active participants in supporting that growth.”
CME Group is the world’s biggest derivative marketplace. Futures are a type of contract allowing an investor to buy or sell the underlying asset at a given price at a predetermined expiration date.
The marketplace offers Bitcoin and Ethereum futures.
Decrypt reached out to CME Group for additional comment.
UPDATE (April 24, 2025, 10:32 a.m. ET): Adds comments and XRP price information.
Edited by James Rubin
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