The Chicago Mercantile Exchange (CME) group is scheduled to launch XRP futures contracts on May 19th and will expand its cryptocurrency derivative offerings, including the fourth asset after Bitcoin, Ethereum and Solana. XRP futures are calculated daily at 11:00 am UTC, based on the CME CF XRP dollar reference rate.
Two contract sizes are available. A micro contract representing 2,500XRP and a standard contract for 50,000XRP. This follows previous speculation in January when CME webpages referring to XRP futures were temporarily live and then deleted, causing controversy among traders.
The addition of XRP is due to the continued growth of institutional interest in cryptocurrencies. Investors are trying to diversify and manage risk across more digital assets, according to CME’s head of Crypto Products Giovanni Vicioso. Currently, XRP, the fourth-largest cryptocurrency with a market capitalization of over $127 billion, has gained popularity for its cross-border payments and connections with Ripple Labs. XRP ledgers are known for their low transaction costs and fast settlement times, and are deployed as a tool for financial institutions and payment providers.
Ripple has partnered with global entities such as Santander, SBI Holdings, and MoneyGram, and is involved in several central bank digital currency pilots. The company’s long-standing legal battle with the US Securities and Exchange Commission (SEC) has recently been concluded in a settlement. Ripple’s fines fell from $125 million to $50 million. This is considered a regulatory green light for further adoption. The change in SEC’s stance may have contributed to the timing of the CME for the launch of XRP futures.
Meanwhile, the broader crypto market continues to develop investment products. CME launched Solana Futures in March, with contract sizes of 25 SOL and 500 SOL. On the ETF front, Canary Capital has applied for a Tron ETF betting on it, with the aim of winning a 4.5% return by staking a portion of TRX Holdings.
Currently, there are over 70 cryptocurrency ETF applications awaiting SEC reviews, covering assets ranging from established tokens such as XRP and Solana to meme coins and NFT projects. Bloomberg ETF analyst Eric Balknas commented on this kind, suggesting that 2025 will be a volatile year for digital asset investment products. Robinhood has listed CME’s XRP futures and confirmed it will further expand access to products for retailers. XRP is currently trading at $2.19, a slight decline for the day.