The biggest derivatives marketplace in the world, CME Group, has stated that, subject to regulatory approval, it plans to begin offering $XRP futures on May 19, 2025. The futures, which will be cash-settled using the CME CF XRP-Dollar Reference Rate, will be available in two contract sizes: a microcontract worth 2,500 XRP and a larger contract worth 50,000 XRP.
This benchmark tracks the price of XRP in U.S. dollars, which is calculated daily at 4:00 p.m. London time, ensuring transparent and reliable settlement for market participants.
CME’s Expansion Into XRP Derivatives
The move into XRP derivatives follows the company’s release of Solana (SOL) futures in March. It also adds to the futures and options services it already offers for Bitcoin and Ethereum.
The CME’s crypto futures business has grown significantly. In the first quarter of 2025, it handled an average of 198,000 contracts per day, worth $11.3 billion in nominal value, resulting in a 141% increase from the previous year. Open interest has also grown by 83% to $21.8 billion, providing further proof of increased engagement from both large and individual investors.
The launch of XRP futures is driven by heightened interest in the cryptocurrency and its efficient, cost-effective blockchain, the XRP Ledger (XRPL). Because it can quickly and cheaply send money across countries, XRP has been gaining attention from investors and financial institutions seeking alternatives to traditional ways of sending money internationally.
The new futures contracts plan to offer a regulated, capital-efficient way to manage risk and gain exposure to XRP’s price movements.
Robinhood Enables Retail Access, Potential for Spot ETF
Robinhood, the popular trading platform, will offer CME’s XRP futures to its retail customers. Its integration of $XRP futures will bring the total number of futures products available on its platform to more than 40, further democratizing access to complex financial instruments for everyday traders.
In parallel, the launch of XRP futures could be a potential catalyst for further product innovation, including the possible introduction of a spot XRP ETF. For instance, legal precedents such as the Grayscale case have demonstrated that a regulated futures market can facilitate spot ETF approvals.
As the May 19 launch approaches, the debut of CME’s $XRP futures remains subject to regulatory review. If approved, the contracts could provide a new, regulated avenue for investors to hedge, speculate, and manage exposure to one of the world’s most widely used digital assets.
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