CME Group has announced the launch of the first regulated XRP futures, which is a significant event for Ripple and the entire crypto market.
Significance of XRP Futures Launch
Ripple Labs CEO Brad Garlinghouse called the launch of XRP and Micro XRP futures a key milestone for the company. He stated that this decision would give investors access to XRP prices, while also providing greater transparency and risk management.
Clearing of the First Trade by Hidden Road
Garlinghouse also revealed that Hidden Road, a brokerage firm recently acquired by Ripple Labs, cleared the first trade on CME. This underscores the success of institutional participation in XRP trading.
XRP Futures Market and Investor Reactions
The launch of XRP futures coincided with a growing interest in assets tracking XRP. Currently, there have been the highest number of ETF filings for XRP, with nine companies including major players like Franklin Templeton and Grayscale Investments. Nevertheless, XRP’s price reacted mildly to the launch, dropping to $2.33, which aligns with the ongoing downturn in the cryptocurrency market.
The launch of regulated XRP futures marks an important moment for both Ripple and institutions looking to access the cryptocurrency market. It opens new opportunities for institutional investors and further development of this asset in the market.
