CME Group launches XPR contacts due to increasing interest in assets diversification

The Chicago Mercantile Exchange Group (CME) derivatives marketplace plans to launch XPR trading on May 19, increasing its offerings with a fourth digital asset after Bitcoin, Ethereum, and Solana. Cash-settled XRP contracts will be hinged on the CME CF XRP-Dollar Reference Rate, calculated each day at 11:00 GMT.

There will be 2 types of contracts: 2,500 XPR and 50,000 XPR. According to the head of the CME cryptocurrency product department Giovanni Vicioso, adding Ripple is connected with investor’s intensions to diversify their portfolios and manage risks with more digital assets. 

Moreover, the platform is famous with its productive cooperation with Ripple, which recently settled the litigation with the US Securities and Exchange Commission (SEC).

Robinhood company has confirmed the listing of CME contracts on XRP, opening up access to the product for retail traders. XPR is currently trading at just under $2.19, having shown a slight decline.