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Apr 25, 2025

CME announces XRP futures, based on CF Benchmarks' XRPUSD_RR index

XRP futures will be tradable on the primary CFTC-regulated derivatives market for the first time.

CF Benchmarks is delighted to learn that CME Group, the world’s leading derivatives marketplace, plans to launch XRP futures on May 19th, pending regulatory approval.

We are proud to confirm settlement of CME XRP futures will be based on our regulated CME CF XRP-Dollar Reference Rate (XRPUSD_RR).

The futures will be available in both micro-sized contracts, each representing 2,500 XRP, and larger-sized contracts, representing 50,000 XRP each.

Expansion

The launch of CME XRP futures is both a further expansion of CME Group’s crypto product suite, following the launch of CME Solana futures in March, and the latest extension of the CF Benchmarks - CME Group partnership, which began almost a decade ago.

XRP futures will be the fourth set of CME products to be powered by our regulated Benchmark Methodology, together with Bitcoin, Ether and Solana futures and options. All CME crypto products are settled with regulated CF Benchmarks indices.

About XRPUSD_RR

The CME CF XRP-Dollar Reference Rate (XRPUSD_RR) is a once-a-day benchmark index price of XRP that aggregates trade data from multiple XRP-USD markets operated by Constituent Exchanges. These are major cryptocurrency exchanges that must pass rigorous selection criteria testing their conformance with CF Benchmarks' strict regulatory requirements, and which are subject to frequent reviews.

Calculated every day since its launch on 16th November 2017, XRPUSD_RR is the most trusted source of XRP pricing, and the pre-eminent price benchmark for XRP risk settlement, being a Registered Benchmark under the UK Benchmarks Regulation framework (BMR), and a Third Country Benchmark under EU BMR.

About XRP

XRP is the fourth-largest cryptocurrency in terms of market value, with a free-float market capitalization of approximately $129 billion.

It is the native token of the XRP Ledger (XRPL), a decentralized, layer-1 blockchain, known for cost-effective payments and fast transaction speeds.

These features have made XRPL popular with major financial institutions, such as banks, FinTechs and cryptocurrency exchanges, which deploy it for real-time cross-border payments, remittances and tokenization projects, among other uses.

More than $1 trillion in value has been transacted over the network since it was established by the founders of Ripple Labs, Inc., in 2012.

Increased accessibility

Now, exposure to this high-profile digital asset will be available on the primary CFTC-regulated Designated Contract Market (DCM) for the first time.

Furthermore, with two contract sizes available, CME XRP futures will be accessible by both individual and institutional traders alike, as well as offering greater flexibility in position-sizing.

Read more about XRP futures

Learn more about the CME CF XRP-Dollar Reference Rate (XRPUSD_RR)


The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.


Note: Some of the underlying instruments cited within this material may be restricted to certain customer categories in certain jurisdictions.


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