CME Group, the world’s derivatives marketplace, launched Spot-Quoted XRP and SOL futures. According to the announcement, spot-quoted XRP and SOL futures will now aim to complement the existing Spot-Quoted Bitcoin and Ether futures, and are also available to trade “across the four major U.S. equity indices, including the S&P 500, Nasdaq-100, Russell 2000 and Dow Jones Industrial Average.”
Additionally, these contracts allow investors “to trade futures positions in spot-market terms with the added benefit of a longer-dated expiry – eliminating the need to periodically roll positions.”
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group said that they have seen “strong demand for their current Spot-Quoted Bitcoin and Ether futures, with more than 1.3 million contracts traded since launched in June, and they are pleased to add XRP and SOL to their offering.”
Vicioso added that it is designed for the everyday trader, and that “the size of these contracts – their smallest yet within our Crypto complex — will provide greater precision and market accessibility to clients, while also being quoted in terms they are already familiar with.”
In addition, Spot-Quoted futures will provide “traders with flexibility by allowing them to either maintain the position in accordance with their longer-term view, or to trade in and out of positions, without having to roll positions frequently.”
Spot-Quoted Bitcoin and Ether futures continue to experience strong growth. Additional trading highlights include:
- Launch-to-date average daily volume (ADV) of 11,300 contracts
- Q4 ADV of 18,400 contracts
- December ADV of 35,300 contracts
- Record trade day of 60,700 combined Spot-Quoted Bitcoin and Ether futures on November 24
- Spot-Quoted futures are listed on and subject to the rules of CME and CBOT.
As the derivatives marketplace, CME Group enables clients to “trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to manage risk and capture opportunities.”
CME Group exchanges offer a range of global benchmark products “across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.”
The company offers futures and options on futures trading via the CME Globex platform, fixed income trading “via BrokerTec and foreign exchange trading on the EBS platform.”
In addition to this, it now reportedly operates one of the world’s “central counterparty clearing providers, CME Clearing. “
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!