- Futures settled in cash, linked to XRP-Dollar Reference Rate.
- Standard contract size set at 50,000 XRP; micro contracts at 2,500 XRP.
- XRP adds to CME’s growing list of digital assets including Bitcoin, Ethereum, and Solana.
The Chicago Mercantile Exchange Group has officially unveiled XRP futures and Micro XRP futures. This launch represents a notable enhancement to its range of regulated cryptocurrency derivatives offerings.
With this rollout, XRP, now ranked as the fourth-largest digital currency by market capitalization, joins popular assets like Bitcoin, Ethereum, and Solana within CME’s diverse crypto product lineup.
Available for trading since the evening of May 18, these new contracts are tailored specifically for institutional investors who are looking for regulated options in XRP.
The introduction of these futures is indicative of a broader interest in a variety of cryptocurrency assets within traditional financial frameworks.
CME Introduces XRP Futures
CME has launched two types of XRP futures products—standard XRP futures and Micro XRP futures—on its CME Globex and CME ClearPort trading platforms.
The standard futures contract is set at 50,000 XRP, while the Micro contracts represent 2,500 XRP each. Both are cash-settled and benchmarked based on the CME CF XRP-Dollar Reference Rate, ensuring a transparent and consistent valuation of the underlying digital asset.
Transaction fees differ depending on participant types and trading venues, with classifications in place for institutional investors, market makers, and proprietary trading firms.
These product offerings were first hinted at in January with informal documentation before being officially confirmed in April, pending necessary regulatory approvals.
Growing Institutional Interest
The decision by CME to introduce XRP derivatives highlights a surge in institutional interest in diverse cryptocurrency investments.
This move comes amid significant growth within CME’s crypto derivatives sector, where it reported a remarkable 141% year-over-year increase in average daily crypto derivatives volume during the first quarter of 2025, amounting to an average of 198,000 contracts with a notional value of $11.3 billion.
Open interest also saw an 83% rise, totaling $21.8 billion.
The introduction of XRP futures is anticipated to boost market liquidity, open new avenues for hedging, and aid in effective price discovery. These features are particularly beneficial for institutional asset managers, hedge funds, and trading desks looking to navigate digital assets within a compliant and strategically managed landscape.
Regulatory Challenges for Ripple
The launch of these futures takes place against the backdrop of Ripple’s ongoing legal challenges in the U.S.
The Securities and Exchange Commission continues to pursue legal action against Ripple, despite a previous ruling favorable to the company regarding XRP’s classification in secondary markets.
A recent ruling by a U.S. federal judge denied Ripple’s attempt to reduce a proposed financial penalty, citing parameters surrounding modifications to final judgments.
This regulatory uncertainty may influence how the market reacts to the new futures products. Nonetheless, the availability of XRP contracts through a regulated exchange like CME could allay some concerns by providing institutional-grade trading tools that adhere to compliance standards.
