The CME Group will introduce futures contracts on the cryptocurrency XRP starting May 19. This makes it the third digital asset to be added to the world's largest derivatives marketplace, following Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
The CME XRP futures will be settled in cash and based on the CME CF XRP-Dollar Reference Rate, which is calculated once daily at 16:00 London time. Market participants will be able to trade both a micro contract (2,500 XRP, currently 5,475 USD) and a larger contract (50,000 XRP, currently 109,500 USD), as outlined in a press release.
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Largest derivatives platform expands crypto offering
With an average daily trading volume in the triple-digit billions, CME is the leading derivatives platform globally. For several years, the company has offered popular futures contracts on Bitcoin (BTC) and Ethereum (ETH). This March, Solana (SOL) became the third cryptocurrency to be tradeable. The XRP offering is supposed to build on the previous success. According to the press release, a significant volume of cryptocurrency transactions was settled in Q1 2025:
- Average daily volume of 198,000 contracts (11.3 billion USD nominal value), an increase of 141% compared to the previous year
- Average open interest of 251,000 contracts (21.8 billion USD nominal value), an increase of 83% compared to the previous year
- More than 43,000 SOL futures (705 million USD nominal value) traded since launch on March 17
XRP as the logical number four
It should come as little surprise that XRP follows Solana. The cryptocurrency has solidified its position in the market and remains in fourth place by market capitalization, behind Bitcoin, Ethereum, and USDT. Interest in XRP and its underlying ledger (XRPL) has steadily increased with the growing acceptance of the network by institutional and private investors, according to the CME's head of crypto products. With this offering, the company aims to meet this demand.
"Given the ongoing innovation in digital assets, market participants continue to rely on regulated derivatives products to manage risks for a broader range of tokens. [...] We are excited to launch these new [XRP] futures contracts to provide our customers with a capital-efficient toolset to support their investment and hedging strategies." - Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group
