CME Group, the world’s largest futures and options exchange, has recently launched XRP futures.
With this move, XRP becomes the latest altcoin to join the crypto offering that includes Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) futures.
While it was stated that CME is one step closer to the spot XRP ETF after its XRP move, bad news came from CME for some altcoins.
According to Coindesk, CME announced that there are no plans to launch memecoin products.
While asset managers like VanEck and 21Shares are scrambling to launch spot ETFs tied to memecoins like Dogecoin (DOGE) and Trump Coin (TRUMP), CME will take a different path.
Gio Vicioso, CME’s global head of cryptocurrency products, said the company is considering launching products related to cryptocurrencies with real-world use cases, while staying away from memecoins, which are speculative assets.
“CME launches products based on the underlying cryptocurrencies that are its use case.
So we’re not planning to do anything in the memecoin space because the use case for that type of product doesn’t really exist.”
CME is also considering switching to a 24/7 trading system to align with crypto markets, but hasn’t yet officially announced any action. Vicioso noted that as the market matures and interest in its products grows, CME is still considering closing the gap that exists between Friday evening and Sunday evening.
*This is not investment advice.
