A primary occurred within the US, with Solana (SOL), Litecoin (LTC), and HBAR ETFs beginning buying and selling yesterday.
Regardless of the excellent news for the three altcoin ETFs, there’s nonetheless no exercise for XRP, the fourth-largest cryptocurrency. Whereas XRP has lagged behind different ETFs, the XRP ETF is predicted to be obtainable quickly.
At this level, whereas the tense await XRP continues, excellent news got here from the CME entrance.
Accordingly, the open curiosity (OI) in XRP and SOL futures traded on CME reached a brand new all-time excessive.
It has been reported that open curiosity in XRP and SOL futures on the Chicago Mercantile Alternate (CME), one of many world’s largest derivatives exchanges, has reached a report degree, exceeding $3 billion.
Chatting with Coindesk, CME President Tim McCourt mentioned the data present traders are searching for danger administration and market development alternatives by regulated futures markets.
McCourt additionally famous that this demonstrates robust investor demand for regulated cryptocurrency merchandise.
Solana futures have been listed on the CME in March of this yr, and by August, open curiosity quantity had surpassed $1 billion. For XRP, futures surpassed the identical degree of $1 billion inside three months of launch.
This report is interpreted as an indication that the derivatives market centered on Bitcoin (BTC) and Ethereum (ETH) is progressively increasing in the direction of main altcoins.
*This isn’t funding recommendation.
