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Von Luca Franchi
What to know:
- CME began trading regulated XRP futures on Monday, the first of their kind in the U.S.
- The contracts are cash-settled and priced off a daily reference rate, with sizes of 2,500 and 50,000 XRP.
- The launch may support efforts to list a spot XRP ETF, which remains under SEC review.
Traders can trade two contract sizes: 2,500 XRP and 50,000 XRP, which will both be cash-settled and based on the SME CF XRP-Dollar Reference Rate, which tracks the price of XRP daily at 4:00 p.m. London time.
The price of XRP was down 3.45% over the past 24 hours.
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The existence of regulated futures could mark a big step in the right direction as it relates to a spot XRP exchange-traded fund which is currently under review to be approved or denied by the Securities and Exchange Commission (SEC). Several U.S. issuers have filed to launch such a fund but have yet to receive a decision.
"CME-traded XRP futures are now *live*," wrote ETF Store President Nate Geraci on X. "CFTC-regulated contracts on XRP. Spot XRP ETFs only a matter of time."
The former SEC under Chair Gary Gensler had previously told issuers that one of the reasons it approved the spot bitcoin and ethereum ETFs was that it already had an existing regulated futures market in the U.S.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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