The Long-Awaited Big XRP Announcement Has Arrived! “The Date is May 19!”

CME Group, the world’s largest futures and options exchange, announced today that it will launch XRP futures on May 19, subject to regulatory approval. Market participants will have the option to trade both a micro-sized contract (2,500 XRP) and a larger-sized contract (50,000 XRP). XRP futures will join the company’s crypto offerings, which include Bitcoin (BTC) and Ethereum (ETH) futures and options, as well as the recently launched Solana (SOL) futures. CME Group XRP futures will be settled in cash and will be based on the CME CF XRP-Dollar Reference Rate, which is used as the daily reference rate for the XRP price in the US dollar and is calculated daily at 16:00 London time. So far, only Bitcoin, Ethereum, and Solana have futures products and are traded on the CME. At this point, futures approval is considered an important milestone on the way to spot ETF approval of assets. Because one of the biggest obstacles to the approval of the XRP ETF was the lack of a futures market based on XRP. Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, said: “As innovations in the digital asset landscape continue to evolve, market participants continue to look to regulated derivatives products to manage risk across a broader range of tokens. “Interest in XRP and its underlying ledger (XRPL) has grown as institutional and retail adoption for the network increases, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support our clients’ investment and hedging strategies.” Sal Gilbertie, CEO of Teucrium, which launched the first XRP ETF in the US, said the following about CME’s XRP move: “XRP was purpose-built for real financial use cases and today facilitates global value transfers via the fast, low-cost XRP Ledger. Teucrium 2x Daily Long XRP ETF (XXRP) reached $35 million AUM in its first 10 trading days. “The listing of CME Group-regulated XRP futures marks another milestone in the evolution of the ecosystem, and we intend to be active participants in supporting this growth.” *This is not investment advice. Continue Reading: The Long-Awaited Big XRP Announcement Has Arrived! “The Date is May 19!”

Source: BitcoinSistemi