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CME launches options on Solana and XRP: A step into the future!
CME Group to Launch Options for Solana and XRP Futures on October 13, Signaling Strong Institutional Interest and High Liquidity.
CME launches options on Solana and XRP: A step into the future!
CME Group has announced exciting news for the cryptocurrency market: on October 13, the company will launch options for Solana and XRP futures, subject to regulatory approval. This decision goes beyond traditional Bitcoin and Ether products and highlights the growing institutional demand in the crypto derivatives landscape. The move is seen as a further indicator of increasing adoption of digital assets.
The launch of the options is a significant milestone for CME Group, which already offers a comprehensive portfolio of futures contracts. Giovanni Vicioso, the Global Head of Cryptocurrency Products at CME, highlights that Solana and XRP futures are among the fastest adopted products. The new options include both standard and micro contracts and offer flexibility for a wide range of market participants.
Details about the new products
The product range will offer a full range of expirations, including daily, monthly and quarterly contracts, catering to traders' needs. Since launching in March, Solana futures have traded over 540,000 contracts with a notional value of $22.3 billion. A record average of 9,000 contracts per day was reached in August, along with an average open interest of 12,500 contracts.
XRP futures, launched by CME in May, recorded over 370,000 contracts with a notional value of $16.2 billion. Here too, record values were reached in August: an average daily volume of 6,600 contracts and a record open interest of 9,300 contracts. These numbers demonstrate the increasing popularity and trading volume in the world of crypto derivatives.
Institutional demand
The strong demand for these products is further strengthened by the support of the industry's largest liquidity providers. The CME Group is thus placing a clear focus on expanding its derivatives tranches and demonstrating that it is ready to offer its customers an expanded range of trading options. The data-based analysis and identifying characteristics suggest that investor interest in crypto derivatives is not waning.
In summary, the upcoming options launch for Solana and XRP could further increase liquidity and further improve market conditions for institutional investors. The message from crypto.news strongly underlines the growing acceptance and trust in the future of cryptocurrencies and their derivatives, which could significantly influence the future course of the market.