XRP Futures began to negotiate the derivative platform for Chicago Mercantile Exchange (CME) on Monday, becoming the first regulated future which follow the price of XRP in the United States
Traders can exchange two contract sizes: 2,500 XRP and 50,000 XRP, which will both be reduced in cash and based on the PME reference rate CF XRP-DOLLAR, which will follow the price of XRP daily at 4:00 p.m. London time.
CME already offers bitcoin
Ethereum and Solana Futures as well as Bitcoin and Ethereum options. The group’s future soil, which was launched in mid-March, had only reserved $ 12.3 million in theoretical daily volume on the first day and closed with $ 7.8 million in open interest, a much lower number on an adjusted basis compared to the beginnings of future ether and bitcoin.
The price of XRP dropped by 3.45% in the last 24 hours.
The existence of regulated term contracts could mark a big step in the right direction with regard to an XRP exchange fund, which is currently being examined to be approved or refused by Securities and Exchange Commission (SEC). Several American issuers have filed a file to launch such a fund but have not yet received a decision.
“The future XRPs negotiated in CME are now * live *,” wrote the president of the store ETF Nate Geraci on X. “Contracts regulated by CFTC on XRP. Spot XRP ETF only a matter of time.”
The former dry under the presidency Gary Gensler had previously declared to the issuers that one of the reasons why he had approved the Bitcoin and Ethereum and Ethereum spots was that he already had a regulated term market existing in the United States
