Key takeout
- CME Group will provide XRP futures starting May 19, awaiting regulatory review.
- SEC and Ripple’s payment requests were denied and a $125 million fine was maintained.
The Chicago Mercantile Exchange (CME) Group, the world’s leading derivatives market, is set to launch XRP and MicroXRP futures contracts on Monday, May 19th, aiming to expand its suite of regulated crypto derivatives to sell its fourth-largest digital assets.
The contract will trade on CME Globex and be cleared through CME Clearport and access will begin on Sunday evening, May 18th for CME participants. Let me know.
Each XRP futures contract represents 50,000 XRP, while microXRP futures represents 2,500 XRP. Prices vary depending on the type of attendee and venue.
CME Group Confirmed In April, after an earlier leak in January suggested a rollout, it will pending regulatory approval and launch its first XRP futures contract.
In an April statement, Giovanni Vicioso, global head of cryptocurrency products at CME Group, said: “We are pleased to launch these new futures contracts to provide a capital-efficient set of tools to support our clients’ investment and hedging strategies.”
XRP products expand CME’s existing crypto derivatives lineup. This already includes contracts related to Bitcoin, Ethereum and Solana. CME Just Solana Futures debuted In March.
The company’s first quarter crypto derivatives trade saw its daily volume rise 141% year-on-year to 198,000 contracts, or $11.3 billion in anticipation.
The future developments come as an effort to resolve the SEC’s long-term lawsuit against Ripple, the company behind XRP.
Thursday, US District Judge Annalisa Torres, a federal judge who is predominantly deging the case; Joint request has been rejected The two parties have approved a settlement that cuts Ripple’s civil penalty from $125 million to $50 million.
Calling it procedurally inappropriate, Judge Torres explained that the motion failed to meet Rule 60.
The decision lives on Ripple’s legal challenges and casts uncertainty on the timeline of Spot XRP ETF approvals that remains in the SEC review.
Still, the introduction of CME XRP futures has led institutional investors to regulate exposure to XRP price movements at a time when interest in crypto derivatives is growing.
last month, Coinbase has released a list of XRP futures contracts, including standard XRP futures and Nano XRP futures for regulated derivative exchanges.
XRP prices are relatively stable at around $2.3 over the last 24 hours In the case of Coingecko.
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