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Ripple CEO Applauds Launch of Regulated XRP Futures

Brad Garlinghouse, CEO of Ripple Labs, has commended the decision by CME Group to introduce the first regulated XRP Futures. This move marks a significant step forward for Ripple and the broader cryptocurrency market.

Key Milestone for XRP and Ripple Labs

Garlinghouse described the launch of XRP and Micro XRP futures as a “key milestone” for Ripple Labs. He also noted that Hidden Road, Ripple Labs’ recently acquired prime brokerage, cleared the first block trade at the CME open. This development provides investors with exposure to the price of XRP while enhancing transparency and risk management capabilities in the crypto trading space.

“The launch of regulated XRP Futures on CME Group marks a key institutional milestone for XRP… and very excited to report that Hidden Road cleared the first block trade on CME at the opening!” – Brad Garlinghouse

Impact on Exchange-Traded Funds

The introduction of XRP futures is expected to pave the way for asset management firms to offer exchange-traded funds (ETFs) tracking XRP futures. This is similar to the success of the ProShares Bitcoin Strategy Fund, which has surpassed $2 billion in assets. Such ETFs provide investors with easier access to cryptocurrencies while diversifying their portfolios.

Growing Demand for XRP-Tracking Assets

The launch comes as demand for XRP-related assets continues to grow. XRP currently leads in altcoin ETF filings, with nine firms—including Franklin Templeton, ProShares, Canary Capital, and Grayscale Investments—seeking approval for XRP-tracking ETFs. Solana follows with seven applications, highlighting the increasing interest in altcoin investment products.

Performance of XRP and Solana ETFs

Among the newly launched funds, the Teucrium 2x Long Daily XRP ETF has already accumulated more than $106 million in assets. Comparatively, the 2x Solana ETF, trading under the ticker symbol SOLT, has gathered less than $35 million in assets four months after its launch. These figures underscore the stronger market interest in XRP-related investment products.

XRP Price Reaction

Despite the positive sentiment surrounding the futures launch, the XRP price experienced a mild decline. It dropped to $2.33, marking a 12.25% decrease from its monthly high. This downward movement aligns with the broader crypto market downturn and the fact that the futures launch had already been priced in by traders.

The introduction of regulated XRP futures is a significant development for institutional investors and retail traders alike, offering new opportunities for cryptocurrency exposure while driving market maturity.

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