- XRP ETF underway?
- XRP price today
Nate Geraci, the cofounder of the ETF Institute and president of the ETF Store, issued an X post on May 19, expressing confidence about XRP’s next big move after the debut of the much-awaited XRP futures.
The Ripple community is set for more institutional adoption, all thanks to CME’s decision to expand its suite of regulated crypto derivatives by including XRP. Per the development, the XRP futures contract will be issued based on the CME CF XRP-Dollar Reference Rate, which represents cash-settled futures.
Notably, this eliminates the need for the physical delivery of XRP coins when a contract concludes. Thus, this seeks to address the fast-growing demand for digital assets like XRP among institutions.
While this marks a notable milestone for the broad crypto market and the XRP community, this major development has made headlines as XRP traders debate what’s next for the leading altcoin.
XRP ETF underway?
On Monday, Nate Geraci took to X (formerly Twitter) to disclose the launch of regulated XRP futures contracts on the renowned crypto derivatives trading platform, Chicago Mercantile Exchange (CME).
While the contracts have been regulated by the Commodity Futures Trading Commission (CFTC), institutional investors now have secure access to exploring the digital asset as they leverage new avenues for exposure and hedging strategies.
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Amid the buzz surrounding this notable development, Nate Geraci has shown belief that the XRP exchange-traded fund (ETF) is next in line. His statement suggests that the XRP futures launch will serve as a stepping stone for XRP to finally experience the official approval of its investment product.
This notable regulatory development signals a potential bullish catalyst for the long-distressed price of XRP, as it tends to provide more utility for the fourth-largest cryptocurrency by market capitalization.
While the demand for the XRP investment product has continued to rise, the move has also fueled more optimism among crypto traders, as other X users were seen making comments in agreement with Nate’s forecast.
XRP price today
Although XRP has been trading sideways in recent days, this major development poses a long-term impact on its performance as traders expect this to mark the beginning of a major bull run.
Source: CoinMarketCap
As of today, XRP has declined slightly by 0.77% over the last 24 hours, but its trading volume shows a massive 63.87% surge. XRP is trading at $2.37 as of press time.