CME Group Broadens Crypto Derivatives With Spot-Quoted XRP and Solana Futures
CME Group has expanded its cryptocurrency derivatives portfolio by introducing Spot-Quoted futures for $XRP
XRP and Solana, giving traders access to contracts that closely follow live spot market prices.
These newly launched products are CME’s smallest crypto futures contracts so far, designed for active traders who prefer spot-style pricing without the complexity of dealing with contract expirations or rolling positions forward.
The structure of these contracts is similar to CME’s existing Spot-Quoted Bitcoin and Ether futures, which were introduced earlier this year. Unlike traditional futures that may trade at a premium or discount due to financing costs, Spot-Quoted futures closely track the underlying asset’s spot price, with financing adjustments handled separately at settlement.
According to Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, demand for Spot-Quoted Bitcoin and Ether futures has been strong, with over 1.3 million contracts traded since their June launch. Building on this momentum, CME is now extending the same model to XRP and $SOL
Solana.
Since their introduction, Spot-Quoted BTC and $ETH ETH contracts have averaged 11,300 contracts in daily trading volume, reaching a peak of 60,700 contracts on November 24, highlighting growing institutional interest.
In addition to the new futures, CME has also enabled Trading at Settlement (TAS) for XRP, SOL, and their respective Micro futures. TAS allows traders to enter positions at a spread relative to the official 4:00 p.m. ET settlement price, even before that final price is known.
This feature is commonly used to manage exposure related to crypto ETFs, particularly during net asset value (NAV) creation and redemption. It also supports block trades and anonymous execution through the CME Globex platform, offering greater flexibility in trade execution.