There is a Chicago-based derivatives giant CME group I was urged XRP holders ahead of the launch of futures tied to the popular Altcoin.
The much-anticipated product is scheduled to be released on May 19th.
CME has inadvertently revealed plans to introduce XRP, which includes a beta page, to its website. The derivative giant quickly moved to downplay the leak, claiming it was just a mock up in a test environment.
However, XRP I’ve checked The intention is to launch such a product in April. Official confirmation was made shortly after CME introduced Solana Futures.
As Reported by U.Todaydeployed the first regulated XRP-based futures in the United States in March.
CME began pricing for Ripple Link Tokens last July. This was an important indication of XRP’s growing institutional adoption. At the time, Ripple CEO Brad Garlinghouse revealed that the launch of benchmark reference rates was the first step towards institutional crypto products.
The launch of XRP futures is considered an important step ahead of the potential approval of a spot-based ETF to track cryptocurrency prices later this year.
Currently, there has been more than a dozen applications from major players such as Franklin Templeton and Bitwise.
It is still unclear how XRP will respond to the launch of CME futures. According to Coingecko data, the token is currently trading at $2.56.
Bitcoin prices are well known for peaking in 2018 shortly after the launch of CME’s Bitcoin futures. Of course, this does not necessarily mean that XRP will suffer the same fate, but there are some concerns about the potential impact of tokens on cryptocurrency price actions.
