XRP Futures Contracts Launch on CME: A Significant Development in Cryptocurrency Markets
news
2 min read
CME Makes Major XRP Move—Ripple CEO Calls It a Milestone Moment
In a groundbreaking move, the Chicago Mercantile Exchange (CME) has announced its intention to launch cash-settled XRP futures contracts. This development is being hailed by Ripple CEO Brad Garlinghouse as a significant milestone moment for both his company and the broader cryptocurrency market.
The introduction of these derivatives is expected to enhance market liquidity and potentially pave the way for the approval of an exchange-traded fund (ETF) for XRP, thereby opening up new investment opportunities for institutional investors. The decision by CME, one of the world’s leading derivatives exchanges, represents a major validation of XRP’s status as a legitimate digital asset.
The move is also seen as a significant expansion of CME’s offerings in the cryptocurrency space, as it will now allow institutional traders to gain exposure to XRP and other altcoins. This shift towards greater inclusivity has been welcomed by investors who have previously been restricted from trading these assets due to lack of institutional-grade tools.
The launch of the cash-settled XRP futures contracts is set to take place on May 19, pending regulatory approval. While CME’s decision to introduce these derivatives does not come as a surprise, it still marks a significant moment in the evolution of cryptocurrency markets.
In response to this news, Garlinghouse has praised the move, stating that it “marks a major milestone for our company and the broader industry.” He believes that this development will further increase the adoption of digital assets by institutional investors.
The launch of these derivatives is expected to lead to increased market participation from institutions, which could have significant implications for the price and overall direction of the cryptocurrency market.
Source: https://www.crypto-news-flash.com/cme-makes-major-xrp-move-ripple-ceo-calls-it-a-milestone-moment/?utm_source=rss&utm_medium=rss&utm_campaign=cme-makes-major-xrp-move-ripple-ceo-calls-it-a-milestone-moment
