What to Know:
- Dear Reader, on the auspicious day of May 19th, XRP futures made their grand entrance onto CME’s esteemed derivatives platform, boasting a modest but undeniably thrilling $1.5 million in trading volume. Truly, a debut of majestic proportions! 🧐
- The contracts are settled in cash—because who needs the hassle of delivering actual XRP?—and are anchored to the CME CF XRP-Dollar Reference Rate, thus presenting a smorgasbord of strategic options for the keen trader.
- This gala event was preceded by the CFTC’s gracious declaration of XRP as a commodity—a decision as momentous as a newly-arrived lady’s first dance card—opening the path for what some dare to hope may soon be spot XRP ETFs.
Indeed, the first day of XRP futures on the CME saw a modest, yet generous, tally of trading—some 4 standard contracts, each representing 50,000 XRP, making a total of about $480,000 at a handsome $2.40 per token. Over a million dollars was also traded in micro contracts—because why settle for less? 📈
These charming contracts are, of course, cash-settled and based upon the CME CF XRP-Dollar Reference Rate, diligently published at 4:00 P.M. London time—an event which the most devoted of traders await with bated breath. The architecture caters to both the illustrious institution and the humble speculator, offering flexibility for all manner of hedging and trading pursuits.
To quote the illustrious Mr. Garlinghouse himself: “The launch of regulated XRP Futures on @CMEGroup marks a tedious but commendable milestone for XRP,” or something to that effect. He further assures us that the celebrated Hidden Road orchestrated the first block trade, a fact no doubt lauded by all at the ball.
This auspicious event follows swiftly upon the CFTC’s designation of XRP as a commodity—a veritable green light in the labyrinth of regulation—paving the way for the advent of XRP spot ETFs, which many hope will grace the market sooner rather than later. ⏳
“CME-traded XRP futures are now live…
CFTC-regulated contracts on XRP.
Spot XRP ETFs only a matter of time,”
— Nate Geraci (@NateGeraci) May 19, 2025
While the initial volumes appear gentle—like a debutante’s timid curtsy—such inclusion in CME’s grand arena shall undoubtedly influence the fickle dance of price discovery, much like the effect of BTC and ETH futures upon the U.S. market’s opening act. Truly, we are witnessing the dawn of a new era, with perhaps even a spot XRP ETF in our not-too-distant future, stirring the masses with anticipatory excitement. 💃🏻
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2025-05-20 07:29