XRP Futures began to operate on the derivative platform of Chicago Mercantile Exchange (CME) on Monday, becoming the first regulated future that tracks the price of XRP in the United States
Merchants can negotiate two contract sizes: 2,500 XRP and 50,000 XRP, which will be established in cash and will be based on the sme CF XRP reference rate, which tracks the price of XRP daily at 4:00 pm, London time.
CME already offers Bitcoin
Ethereum and Solana Futures, as well as Bitcoin and Ethereum options. The Sun Futures del Grupo, which was launched in mid -March, had only reserved $ 12.3 million in notional daily volume on the first day and closed with $ 7.8 million in open interest, a much lower number compared to the debut of the futures of Ether and Bitcoin.
The XRP price dropped 3.45% in the last 24 hours.
The existence of regulated futures could mark a great step in the right direction in relation to a fund quoted in the XRP Spot Stock Exchange that is currently under review to be approved or denied by the Bag and Securities Commission (SEC). Several US emitters have presented that this fund will launch, but have not yet received a decision.
“Future XRP quoted by CME are now *live *,” wrote the president of the ETF store, Nate Geraci, in X. “Contracts regulated by CFTC in XRP. Spot XRP ETFS is only a matter of time.”
The former president of the SEC, Gary Gensler, had previously told the issues that one of the reasons approved by the Spot Bitcoin and Ethereum Etfs was that he already had an existing regulated futures market in the United States.
