CME Group Plans XRP and Solana ETFs for February 2025 Launch
According to reports, CME Group is preparing to launch futures ETFs linked to XRP and Solana, with a tentative launch date of February 10, 2025, pending regulatory approval. This comes on the heels of Trump’s inauguration and Ripple’s closed-door meetings this month, factors that hint at bigger things to come.
Many analysts expect more ETFs to launch in the next six months. However, XRP and Solana are the biggest contenders for ETF approval after Bitcoin and ETH. After the news broke, XRP faced $6.66 million in futures liquidations in the past 24 hours, including $3.92 million long and $2.73 million short.
Notably, the proposed product includes standard and micro contracts for both cryptocurrencies. For Solana, the contract is set to 500 SOL and 25 SOL, while the XRP contract will contain 50,000 XRP and 2,500 XRP options. These contracts are designed to meet the needs of different investors, from large institutions to retail players looking for small-scale investments.
Potential knock-on effects on the market
The announcement coincides with optimism over the U.S. SEC’s approval of a cryptocurrency ETF, especially after a leadership change created a more favorable regulatory environment. However, the lack of direct confirmation from CME led to a cautious market reaction. Past events, such as the false reporting of the BlackRock-backed XRP ETF in 2023, have increased the need for verified information in such announcements.
Fox Business’s Eleanor Terrett emphasized that CME’s move could trigger a wave of similar XRP and Solana futures ETF products, reflecting the growth momentum in the crypto ETF space. Bloomberg ETF analyst Eric Balchunas initially commented on the news, but later retracted his remarks, emphasizing the need for a specific update from CME.
Confirmation rumors began circulating after a draft model was mistakenly published on the CME website, but a CME spokesperson clarified to Fox Business that this was a glitch of their own. No official decision has been made yet regarding the launch of futures contracts for the two tokens.
A new chapter for XRP and Solana
The launch of these ETFs could boost XRP and Solana by making them more accessible to institutional investors. Both assets have suffered huge losses due to unfair regulatory trials, and this could be their moment to regain their lost glory.
The growing interest in crypto ETFs is evident as asset managers such as Rex-Osprey pursue innovative products including Dogecoin ETFs. These developments are driven by a shift in the SEC’s stance on cryptocurrencies, which has already approved Bitcoin and Ethereum ETFs. Additionally, Trump and Melania memecoin fillers are also coming soon.
If successful, CME’s XRP and Solana futures ETFs could mark a new chapter for these cryptocurrencies, opening the door to greater liquidity and adoption.
