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Brad Garlinghouse, chief executive officer of Ripple Labs, has hailed the decision by CME Group to launch the first regulated XRP futures.In a statement, Garlinghouse said that the launch of Ripple (<a href="https://crypto.news/price/xrp/" rel="noopener noreferrer nofollow">XRP</a>) and Micro XRP futures was a ‘key milestone’ for his company.&nbsp;He also revealed that Hidden Road, the prime brokerage recently acquired by Ripple Labs, cleared the first block at the CME open. The launch of XRP futures gives investors exposure to the price of XRP, while also providing greater transparency and risk management capabilities.<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet">The launch of regulated XRP Futures on <a href="https://twitter.com/CMEGroup?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@CMEGroup</a> 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! <a href="https://t.co/Njj8AUSY5K" rel="noopener noreferrer nofollow">https://t.co/Njj8AUSY5K</a>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1924476816246337751?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 19, 2025</a></blockquote></div></figure>Most importantly, the launch will enable asset management firms to offer exchange-traded funds to track XRP futures. A good example of this is the ProShares Bitcoin Strategy Fund, which has accumulated more than $2 billion in assets.You might also like: <a href="https://crypto.news/ethereum-price-dips-as-a-whale-capitulates-with-a-big-loss/" rel="noopener noreferrer nofollow"> Ethereum price dips as a whale capitulates with a big loss </a>The futures debut comes amid growing signs of demand for XRP-tracking assets. XRP has received the highest number of altcoin exchange-traded fund filings, with nine firms, among them Franklin Templeton, ProShares, Canary Capital, and Grayscale Investments, seeking approval.. Solana (<a href="https://crypto.news/price/solana/" rel="noopener noreferrer nofollow">SOL</a>) comes second with seven applications.In addition, the newly launched <a href="https://crypto.news/new-xrp-etf-hits-an-inflow-record-as-xrp-price-wavers/" rel="noopener noreferrer nofollow">Teucrium 2x Long Daily XRP</a> exchange-traded fund has already amassed more than $106 million in assets. By comparison, the 2x Solana exchange-traded fund, with the ticker symbol SOLT, has collected less than $35 million in assets four months after launch.The XRP price reacted mildly to the futures launch as it dropped to $2.33, down by 12.25% from its highest point this month. This decline was in line with the ongoing <a href="https://crypto.news/why-crypto-market-is-down-today-moodys-u-s-downgrade-triggers-sell-off/" rel="noopener noreferrer nofollow">crypto market crash</a> and the fact that the launch was already priced in.You might also like: <a href="https://crypto.news/cardano-price-has-crashed-but-a-rare-pattern-whale-buying-points-to-a-rebound/" rel="noopener noreferrer nofollow"> Cardano price has crashed, but a rare pattern, whale buying, points to a rebound </a>

XRP futures debut on CME as Garlinghouse hails key ‘milestone’

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