Ripple CEO Brad Garlinghouse reacts to the upcoming launch of XRP futures on CME Group’s trading platform, suggesting that the launch is long overdue.
In a statement yesterday, the Ripple CEO acknowledged the delay in launching XRP futures, noting that the product is ‘overdue in a bunch of ways.’
This suggests that although XRP has existed since 2012 and has recorded increased volumes, derivative marketplaces like CME Group have stalled in launching future products for the coin. Despite this delay, Garlinghouse characterized CME Group’s XRP futures as a crucial step in enhancing the growth of the XRP market.
He calls CME Group’s XRP futures incredibly important for XRP growth. The Ripple CEO’s statement suggests that the launch of XRP futures on a Tier-1 derivatives exchange like CME Group could potentially lure professional investors and hedge funds to adopt XRP. The product would also provide a regulated way for investors to gain exposure to XRP, while also laying the groundwork for future offerings like spot ETFs.
CME Confirms XRP Futures Launch
Garlinghouse’s statement comes a few hours after CME Group confirmed it would launch XRP futures on its trading platform. The Crypto Basic reported that CME Group will launch the XRP futures on May 19, pending regulatory approval from the U.S. CFTC.
Notably, the product would give investors indirect exposure to XRP as they can hedge against its future price movement without owning it or creating a blockchain wallet.
The CME Group XRP futures come in two separate contract sizes: Micro XRP futures (MXP) and XRP futures (XRP). The XRP futures are designed for institutional players, with a contract size of 50,000 XRP. In contrast, the micro version is suitable for retail investors, boasting a contract size of 2,500 XRP.
CME Group’s XRP futures are cash-settled, meaning that investors will receive cash instead of physical XRP once the contract expires.
CME Becomes Third Derivatives Exchange to Launch XRP Futures
Once the product goes live on May 19, CME Group will automatically become the third derivative marketplace to launch XRP futures in the United States. Recall that Bitnomial and Coinbase already offer similar XRP products to U.S. investors.
While Bitnomial launched its XRP futures on March 20, Coinbase rolled out the product on April 21. Notably, the upcoming launch of XRP futures on CME Group is significant for XRP, given that the platform ranks as the largest derivatives exchange in the world.
For context, CME, which currently offers three crypto futures tied to Bitcoin, Ethereum, and Solana, recorded an average trading volume of 198,000 contracts in Q1 2025.
Given CME’s position in the derivatives market, its decision to launch XRP futures would further enhance the coin’s credibility, potentially leading to the continued growth of the XRP market, as Garlinghouse suggests.
The futures product could also facilitate the launch of the XRP ETF in the United States. It is worth noting that the SEC usually considers whether a crypto asset has a futures product before it approves it for an ETF. The SEC followed this measure when it approved Bitcoin and Ethereum for spot ETFs last year.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
