Ripple (XRP) and Solana (SOL) are getting a big boost as CME Group rolls out new offerings

The first XRP futures were launched on CME in May this year.

The Chicago Mercantile Exchange (CME) has doubled down on its commitment to some of the most popular altcoins – XRP and SOL – by launching Spot-Quoted futures that track the performance of both assets.

These new products are designed to complement the existing Spot-Quoted Bitcoin and Ethereum futures.

The official statement informs that they will also be available for trading on four major U.S. stock indexes, including the S&P 500, Nasdaq-100, Russell 2000 and Dow Jones Industrial Average.

“We have seen strong demand for our current Spot-Quoted Bitcoin and Ether futures, with over 1.3 million contracts traded since launching in June, and we are pleased to add XRP and SOL to our offering. Designed for the everyday trader, the size of these contracts – our smallest yet within our Crypto complex – will provide customers with greater precision and market accessibility, while also being quoted in terms they are already familiar with,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group.

The new contracts will allow investors to trade futures positions on the spot market by also taking advantage of a longer duration. This should eliminate the need to roll positions periodically.

Recall that the CME launched the first wave of XRP futures contracts on May 19, which merely complemented the cryptocurrency fleet of BTC, ETH, and SOL futures products.

In just a few months, XRP futures financial instruments had broken numerous records on CME’s platform to attract $1 billion in open interest.

Meanwhile, prices of both digital assets have failed to recover following the big CME news. SOL is down over 5.5% weekly and struggling at USD 130, while XRP has lost the USD 2.00 support after falling 7.5% in the last seven days to USD 1.94.

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