CME Group, the world's largest futures and options exchange, has announced the launch of XRP futures, expanding its offerings in the cryptocurrency segment.
Launch of XRP Futures
Recently, CME Group announced the launch of XRP futures, making this altcoin the latest addition to the exchange's futures offerings alongside Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
CME's Stance on Memecoins
However, CME also reported that it has no plans to launch products related to memecoins. According to Coindesk, the company is not looking to enter this segment. Notably, firms like VanEck and 21Shares are actively seeking to launch spot ETFs tied to memecoins such as Dogecoin (DOGE) and Trump Coin (TRUMP). Gio Vicioso, CME's global head of cryptocurrency products, emphasized that the exchange will focus on cryptocurrencies with real-world use cases, steering clear of memecoins, which are viewed as speculative assets.
Future of CME Trading
CME is also considering switching to a 24/7 trading system to align with cryptocurrency markets. However, no official announcements have been made regarding this change. Vicioso noted that as the market matures and interest in CME's products grows, the company may consider closing the gap that currently exists between Friday evening and Sunday evening.
The launch of XRP futures highlights CME Group's expansion in the cryptocurrency segment, while the lack of plans for memecoins indicates the company's cautious approach to speculative assets.
