CME Group has introduced XRP futures contracts, expanding its suite of regulated cryptocurrency derivatives.
The launch follows the first block trade on May 18, which was cleared by Hidden Road and marked a $19 million notional volume on the first day.
XRP and Micro XRP futures support cryptocurrency investment and hedging strategies
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, commented, “We are pleased to see such early support for our latest futures contracts, with more than $19 million in notional volume traded the first day. The addition of XRP and Micro XRP futures to our leading, regulated cryptocurrency suite will provide investors with the deeply liquid, capital-efficient tools they need to support their growing cryptocurrency investment and hedging strategies.”
The new offering includes both Micro XRP contracts, sized at 2,500 XRP, and standard contracts of 50,000 XRP. Both are cash-settled to the CME CF XRP-Dollar Reference Rate, a daily benchmark calculated at 4:00 p.m. London time. The rate serves as a once-daily pricing index for XRP in U.S. dollars.
Noel Kimmel, President of Hidden Road and CEO of its Futures Commission Merchant, said, “We are excited to clear the first block trade in CME Group XRP futures. This is a significant milestone for Hidden Road, and the continued institutional adoption of digital assets – particularly in enhancing liquidity and risk management capabilities around XRP. As one of the largest non-bank prime brokers and FCMs, Hidden Road remains focused on delivering seamless global market access and driving innovation at the intersection of traditional finance and digital assets.”
XRP joins CME Group’s expanding list of regulated crypto derivatives, which already includes futures contracts on Bitcoin, Ether, and other digital assets. With the addition of XRP, CME aims to cater to growing institutional demand for risk-managed exposure to digital currencies.
The XRP launch comes amid increasing institutional interest in altcoins and follows a broader trend of integrating crypto products into traditional financial infrastructure. CME Group continues to position itself as a central venue for regulated crypto derivatives trading, offering access via its Globex platform and clearing through CME Clearing.
It was last month that CME Group announced it would do live with XRP Futures. The launch follows a rise in trading activity on CME’s crypto derivatives. In the first quarter, average daily volume reached 198,000 contracts, equivalent to $11.3 billion in notional value, while average open interest stood at 251,000 contracts ($21.8 billion). Since March 17, more than 43,000 Solana (SOL) futures contracts have traded.
CME Group’s XRP futures offering is expected to further integrate XRP into institutional trading strategies, offering participants a new tool for risk management and exposure to digital asset markets.
