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According to the Chicago Mercantile Exchange, 29.4 million cryptocurrency futures contracts were traded in 2024, worth more than $1.7 trillion in notional terms.
The Chicago Mercantile Exchange (CME) website indicated that it is offering SOL and XRP futures contracts that could debut as early as February 10, pending regulatory review.
Civil
$246.17
Ripple currency
$3.11
According to the website - which later removed the page - contracts for both assets will be available in standard and mini lot sizes, with the standard lot size being 500 SOL and the mini lot size being 25 SOL.
Standard-sized XRP futures will have lot sizes of 50,000 XRP, with mini futures contracts with lot sizes of 2,500 XRP. All XRP and SOL contracts will be settled in USD.
Applications for cryptocurrency exchange-traded funds (ETFs) and futures products have surged in the wake of President Donald Trump’s re-election in the United States and Gary Gensler’s resignation as Chairman of the Securities and Exchange Commission.
XRP, CME, Futures, Solana
Suggested futures contract sizes for XRP and SOL. Source: CME/Stillio
Related: Solana ETFs Could Take Until 2026: Bloomberg Intelligence
Gensler's Departure Sparks a Wave of Demand for Crypto Financial Products
Financial firms have filed a series of applications for cryptocurrency investment vehicles in anticipation of Gensler’s final day at the SEC and in anticipation of a more friendly regulatory climate.
On January 15, asset management firm VanEck filed for the Onchain Economy ETF. The fund will invest in “digital transformation companies” and digital asset vehicles but will not hold cryptocurrencies directly.
According to the asset manager, digital transformation companies include software developers, mining companies, cryptocurrency exchanges, infrastructure builders, and payment companies.
Financial services firm and ETF issuer ProShares filed for a Solana futures ETF on January 17.
The orders are interesting given the current shortage of SOL futures on the Chicago Mercantile Exchange, said exchange-traded fund analyst James Seyfart.
Asset management firm WisdomTree filed for an XRP exchange-traded fund in December 2024, making it the fourth firm to file such an application.
Other companies that have applied for XRP ETFs include Bitwise, 21Shares, and Canary Capital.
WisdomTree’s proposed XRP ETF is initially set to be settled in USD. However, future versions of the fund may include in-kind settlement mechanisms if approved by the SEC.
