CME Group to Launch XRP Futures Contract on May 19

CME Group said Thursday it will debut an expanded crypto-currency derivatives suite allowing market participants to trade XRP futures beginning May 19, pending regulatory approvals. The new contracts will trade in two sizes, a micro-sized contract consisting of 2,500 XRP and a larger 50,000-XRP contract. The futures will be cash-settled using the CME CF XRP-Dollar Reference Rate calculated daily at 4 pm in London. CME previously introduced futures and options trading for Bitcoin and Ethereum, and more recently, launched a SOL futures contract. CME shares were almost 2% chigher in recent trading.