CME Launches New Futures for Ripple (XRP) and Solana (SOL)
CME Group enhances its offering with Spot-Quoted futures for XRP and SOL, adding to existing Bitcoin and Ethereum contracts.
The Chicago Mercantile Exchange (CME) has ramped up its focus on popular altcoins by launching new Spot-Quoted futures linked to XRP and SOL.
These futures are designed to complement the existing Spot-Quoted Bitcoin and Ethereum futures products available to traders. Their introduction marks an important step as the CME expands its cryptocurrency offerings.
According to an official announcement, these new futures will also be available for trading alongside major US equity indices like the S&P 500, Nasdaq-100, Russell 2000, and Dow Jones Industrial Average.
“We’ve seen strong demand for our current Spot-Quoted Bitcoin and Ether futures, with over 1.3 million contracts traded since their introduction in June. We are excited to include XRP and SOL in our offerings. This allows everyday traders to engage with contracts that are our smallest yet—providing enhanced precision and accessibility in familiar terms,” commented Giovanni Vicioso, the Global Head of Cryptocurrency Products at CME Group.
The new contracts will enable investors to trade futures positions in terms that reflect the spot market while allowing for longer expiry periods, addressing the need to regularly roll positions.
In May, CME had already launched its first XRP futures contracts, which contributed to its growing catalog of cryptocurrency offerings, including BTC, ETH, and SOL futures.
Within a few months, the XRP futures had reportedly shattered multiple records on CME’s platform, reaching $1 billion in open interest.
However, despite the positive developments from CME, the prices of both digital currencies have experienced a downturn. SOL has fallen over 5.5% weekly, struggling at around $130, while XRP has dropped below the $2.00 support level after a 7.5% decline in the last week, now trading at $1.94.
