XRP and Solana Prices Surge on Report of CME Futures Launch, Before Retracing
XRP and Solana (SOL) saw their prices spike on Wednesday afternoon after a report surfaced that the Chicago Mercantile Exchange (CME) was preparing to launch futures contracts for both cryptocurrencies.
The report stemmed from a post on X, indicating that the CME had published a “staging subdomain” page detailing futures contracts for XRP and SOL. According to a screenshot of the page, the futures contracts were slated to begin trading on February 10, pending regulatory approval. However, the page was later removed and was not accessible at the time of publication.
James Seyffart, ETF analyst at Bloomberg Intelligence, noted that the launch of futures contracts for XRP and SOL would likely be in line with increasing ETF filings for the two tokens, although no official contracts have yet been listed. “Typically, these would use CME or CBOE futures, but we don’t have any yet,” Seyffart told CoinDesk. “I would expect CME to list those futures in the next month if those issuers know something we don’t.”
Following the circulation of the post, XRP and SOL experienced a surge, rising as much as 3%, according to TradingView data.
Later in the day, a CME spokesperson clarified that the release of the futures page was an error. “A beta page from our website was released in error earlier today,” the spokesperson stated. “Many mock-ups are included in that test environment, and no decisions have been made regarding XRP or SOL futures contracts.”
Subsequently, both XRP and SOL retraced their earlier gains, along with a broader pullback in the cryptocurrency market.
