How Solana and XRP Futures Became CME’s Fastest Growing Crypto Products
CME Group's Solana and XRP futures have become its fastest growing crypto products, reaching record open interest of around $3 billion in contracts. Giovanni Vicioso, CME's global head of cryptocurrency products, noted that these futures have benefited from improved market infrastructure and liquidity that were not previously available. Solana futures were launched in March, followed by XRP futures in May, both witnessing a rapid increase in notional open interest. While futures are a common tool among financial institutions, individual investors are also increasingly participating, expanding the market base. Regulatory clarity in the U.S. has attracted more market participants and permitted strategies such as basis trading. Notably, the debut of futures-based ETFs for Solana and XRP has generated additional liquidity for these futures, contrasting with Bitcoin and Ethereum's past experiences. The ongoing trend indicates a significant institutional interest and adoption of Solana and XRP within the crypto space.
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