Tags: CME Group

XRP’s $19M CME debut pales next to Bitcoin’s $100M launch in 2017, reflecting cooler market conditions, and lingering regulatory worries.

CME launches XRP futures on May 19, offering institutional access via standard and micro contracts tied to XRP’s dollar rate.

CME Group topped the rankings, trading $1.4 trillion in crypto futures in 2024, with BTC open interest surging 83% to over $20 billion.

COIN dropped to just under $200 on Thursday.

CME currently leads as the top BTC futures exchange by open interest, suggesting potential strong competition for Binance, which dominates the spot market.

The report indicates a significant shift in traditional finance as it pivots towards Ethereum, signaling a transition that has been underway for the past two months.

Crypto derivatives traders are speculating on whether a spot Bitcoin exchange-traded fund (ETF) will ever see the light of day, and they’re betting both ways. 

Bitcoin Futures Open Interest on CME has seen a notable rise, driven by extensive liquidations due to the sudden surge in BTC’s price.

The CME now boasts over 100,000 BTC in Bitcoin futures open interest, rivaling even Binance.

A company exec said that the new offering will assist clients in managing short-term bitcoin and ether price risk amid “heightened market volatility.”

The CME Group logo (Shutterstock)

The firm has seen significant demand for its crypto products since November despite the bear market, according to the CEO.