The Long-Awaited Major Announcement About XRP Has Arrived! "The Date is May 19!"

CME Group, the largest futures and options exchange in the world, announced today that they will launch XRP futures contracts on May 19, pending regulatory approval. Market participants will have the option to trade both small-scale contracts (2.500 XRP) and larger-scale contracts (50.000 XRP). XRP futures will be included in the company's cryptocurrency portfolio, including futures and options for Bitcoin (BTC) and Ethereum (ETH), as well as the recently launched Solana (SOL) futures. CME Group's XRP futures contracts will be cash-settled and based on the CME CF XRP-U.S. Dollar Reference Rate, which is used as the daily reference rate for the price of XRP in U.S. dollars and is calculated daily at 4:00 PM London time. So far, only Bitcoin, Ethereum, and Solana have futures products and are traded on CME. At this time, the approval of futures contracts is considered an important milestone on the path to determining the approval of the ETF for the asset. Because one of the biggest obstacles to the approval of the XRP ETF is the lack of a futures market based on XRP. Giovanni Vicioso, Global Director of Cryptocurrency Products at CME Group, stated: "As innovations in the context of digital assets continue to evolve, market participants are increasingly turning to regulated derivative products to manage risks across a wider variety of tokens." "Interest in XRP and the underlying ledger (XRPL) has grown as adoption by institutions and individuals of this network increases, and we are excited to launch these new futures contracts to provide an effective capital toolkit to support our clients' investment strategies and risk hedging." Sal Gilbertie, CEO of Teucrium, the company that launched the first XRP ETF in the United States, commented on CME's XRP move as follows: "XRP is built for real-world financial use cases and currently facilitates global value transfers quickly and at low cost through the XRP Ledger." Teucrium 2x Daily Long XRP ETF (XXRP) has reached 35 million USD AUM in the first 10 trading days. "The listing of the XRP futures contract managed by CME Group marks another important milestone in the development of the ecosystem, and we intend to actively participate in supporting this growth."