The primary occurred within the US, the place the Solana (SOL), Litecoin (LTC), and HBAR ETFs started buying and selling yesterday.
Regardless of the excellent news for the three altcoin ETFs, there may be nonetheless no motion within the fourth-largest cryptocurrency, XRP. Though XRP is delayed in comparison with different ETFs, the XRP ETF is anticipated to be accessible quickly.
At this level, amidst the tense look forward to XRP, some excellent news got here from the CME entrance.
Consequently, the open curiosity (OI) of XRP and SOL futures traded on CME hit a brand new all-time excessive.
Open curiosity in XRP and SOL futures on the Chicago Mercantile Alternate (CME), one of many world’s largest derivatives exchanges, has reportedly reached a document stage of over $3 billion.
CME President Tim McCourt instructed CoinDesk that information present traders are looking for danger administration and market progress alternatives by means of regulated futures markets.
McCourt additionally famous that this reveals sturdy investor demand for regulated crypto merchandise.
Solana futures had been listed on CME in March of this yr, and by August, open curiosity had exceeded $1 billion. Within the case of XRP, the futures worth exceeded the identical stage of $1 billion inside three months of its launch.
This document is interpreted as an indication that the derivatives market centered on Bitcoin (BTC) and Ethereum (ETH) is regularly increasing in direction of main altcoins.
*This isn’t funding recommendation.
