CME Group officially announced today the launch of its new Spot-Quoted contracts for two of the most important assets in the market, allowing trading of XRP and Solana futures under terms closer to the real price. Giovanni Vicioso, Global Head of Cryptocurrency Products at CME, highlighted that this initiative responds to the strong demand for precise tools observed recently.
These financial instruments represent the smallest cryptocurrency contracts offered by the exchange to date, specifically designed to avoid the complex management of expiries. The model replicates the successful structure of Bitcoin and Ether derivatives, which have traded more than 1.3 million contracts since their debut in June, demonstrating significant traction.
The introduction of these products seeks to solve the usual frictions of traditional futures, where prices often trade at premiums or discounts due to financing costs. On the other hand, this mechanism adjusts financing separately at the time of settlement, offering much more direct, transparent, and simple price exposure for active sector traders.
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Simultaneously, the entity has activated the Trading at Settlement (TAS) functionality for these assets and their Micro versions, allowing orders to be executed at a spread to the settlement price. This tool is vital for managing risk around ETFs, facilitating the creation and redemption of net asset value before the final price is fixed.
The momentum behind this expansion lies in the robust volume observed in previous products, with a daily average of 11,300 contracts traded recently. Major financial companies (compañÃas) and institutional investors have shown a voracious appetite, reaching a historic record of 60,700 contracts traded in a single day last November 24.
Can these derivatives stabilize intraday altcoin volatility?
This strategic move complements the exchange’s previous decision to enable options on these same assets in October, covering daily, monthly, and quarterly expiries. The availability of these products on global platforms like CME Globex provides unprecedented flexibility for executing block trades and maintaining anonymity in the order book.
Looking ahead, the adoption of these contracts is expected to foster greater institutional participation in the altcoin market, reducing technical barriers to entry. Likewise, active participants can now operate without the administrative burden of rollovers, which could significantly increase market liquidity and efficiency in the short term.
