The Chicago Mercantile Exchange (CME) is reportedly preparing to introduce futures contracts for Solana and XRP, with a possible launch on February 10 depending on regulatory approval.
CME’s website briefly showed details of these new products before taking the page down.
Solana and XRP Futures for Individual Investors
Advertisements for futures contracts have appeared on the beta version of the CEM website. Although some users claim it is fake, analysts emphasize that it is very likely to be real.
“It looks like CME is looking forward to launching SOL & XRP futures on February 10. However, this is not shown on the official website yet. In fact, if true, this is relatively reasonable and predictable IMO,” share by ETF analyst James Seyffart.
According to the leaked advertisement, Solana and XRP futures contracts will be available in standard sizes as well as micro sizes.
The standard SOL contract will have lots of 500 SOLs, while the micro contract will consist of 25 SOLs.
Similarly, XRP standard futures will have lots of 50,000 XRP, with micro contracts set at 2,500 XRP. All contracts will be settled in USD.
Crypto ETFs Outpace Cryptocurrency ETFs Amid Regulatory Changes
The re-election of President Donald Trump and the resignation of Gary Gensler from the SEC have stimulated a wave of new applications for cryptocurrency-related financial products. Companies are expecting a more favorable regulatory environment.
Yesterday, the SEC, under the interim chairmanship of Mark Uyeda, established a cryptocurrency task force, with the supposed goal of bringing regulatory clarity to the industry.
“In the short time before Atkins took over, Mark Uyeda was expected to de-escalate the management plan through the implementation that Gensler had overseen. The SEC’s current structure sees three commissioners, including Hester Peirce, Caroline Crenshaw and Uyeda. Both Uyeda and Peirce are pro-crypto, meaning any positive regulations that could impact the industry are easy to pass in the future,” shared Agne Linge, head of development at WeFi. with TinTucBitcoin.
To date, four asset managers have applied for an XRP ETF, including WisdomTree, Bitwise, 21Shares and Canary Capital.
Applications for other altcoin ETFs are expected in the near future, with Litecoin identified as a potential frontrunner.
Meanwhile, Nasdaq has filed a 19b-4 to list Canary Capital’s proposed Litecoin ETF. This is consistent with Canary’s recent amendment to the S-1 and the response from the SEC.
Analysts predict that Litecoin could become the first altcoin after Ethereum to get an approved ETF, making Canary Capital an early leader in the space.
While XRP ETFs are generating significant interest, approval times may be lengthy due to ongoing legal proceedings between Ripple and the SEC.
Industry insiders expect the lawsuit will be resolved under new leadership at the SEC, with Paul Atkins likely to take on the official role of chairman. If resolved, the decision could speed up the approval process for XRP ETFs.
In summary, the potential launch of SOL and XRP futures and the rise of ETF applications reflect growing institutional interest in crypto assets.