CME Group reported that Solana and XRP futures contracts are the fastest-growing products on the exchange, with a record open interest of about 3 billion USD.
Giovanni Vicioso, Global Director of Crypto Product at CME, stated that these two products are benefiting from the infrastructure and liquidity built through the experience of launching Bitcoin and Ethereum futures.
He revealed that the average daily trading volume of Solana futures contracts in October reached nearly 700 million USD, while both Solana and XRP hit the milestone of 1 billion USD in open contracts in August.
Vicioso believes that clarity in regulations along with newly launched ETFs, such as Bitwise's spot Solana ETF and Rex Shares' and Osprey's XRP ETF, are driving demand and liquidity. He noted that the “basis” for Solana and XRP is currently higher than that of Bitcoin and Ethereum, reflecting more active trading flows.
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