XRP futures for CME are scheduled to be launched next month, pending organizational approval – Tradingview News
CME Group plans to enter future contracts linked to cryptocurrencies next month, pending organizational clearance. The initiative represents another expansion of Pusing CME to provide regulating encryption derivatives, following its recent appearances in Solana Futures.
In the No. 4 ranking with the marketing of the market of $ 129 billion, the advertisement has not yet strengthened the price of XRP. At the time of publication, XRP changed its hands for $ 2.21, which represents a 6 % jump last week.
Targeting organized derivatives
“With the development of development in the digital scene of digital assets, the market participants continue to search for derivative products that are organizing risk management through a wide range of symbols,” said Giovanni Picoosu, the global head of cryptocurrency products at the CME group.
“Interest in XRP and the Basic Professor’s book (XRPL) has increased steadily with the growth of institutions and retail for the network, and we are pleased to launch these new future contracts to provide a group of capital provides to support customer investment strategies and undermine them.”
Starting May 19, trade and capital savings contracts are organized on XRP, available in larger contracts and small size, so that you can expand your exposure scope with more accuracy and flexibility.
More for futures xRP ➡ https://t.co/szdtbmkgg7r pic.twitter.com/bdjrzysvtd
According to the announcement, the new XRP contracts will offer two options in scaling, 2500 XRP and 5000 XRP, for institutional and retail investors. Each contract will be connected cash and based on the CME CF XRP-Dollar reference rate, which picks up a daily price at 4:00 pm at London time.
Follow the additional XRP futures for CME’s Crypto derivatives. In the first quarter, the company announced a 141 % increase on an annual basis in the average daily trading volume of future encryption contracts, reaching $ 11.3 billion in virtual terms.
Institutional momentum and retail
JB Mackeenzie, VP, GM of Futures, and International At Robinhood confirmed that CME XRP contracts will be able to reach them soon through the RobinHood portable platform. “Providing CME Group XRP futures to Robinhood is a next natural step in our mission to expand the scope of retail sale to futures trading,” said McKenzi.
This batch coincides with the increase in capital flow to the products associated with XRP. According to the report, Teucrium 2x Daily Long XRP ETF reached $ 35 million of management assets during the first 10 recent trading days.
It is designed to facilitate low -cost cross -border transfers, and it appears that the practical use of XRP is serious. The architectural engineering of the XRP book provides increasingly relevant world -related world applications in institutional financing.
With the launch date approaching May 19, CME Group puts future XRP factors as the next major step in the encrypted currency strategy, a calculated play to meet the demand and provide advanced tools for an advanced market quickly.
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