As a researcher with a background in the cryptocurrency market, I’m excited about the latest development regarding XRP and its potential institutional adoption. Brad Garlinghouse, the CEO of Ripple, has highlighted the importance of having a trusted benchmark reference rate for cryptocurrencies, such as XRP, which is now being offered by CME Group in collaboration with CF Benchmarks. This move signifies that there’s increasing demand from institutional investors for reliable price feeds.
As a analyst, I’m excited to share that Brad Garlinghouse, the CEO of Ripple, recently highlighted a significant achievement for XRP on his social media platform. This milestone comes following the announcement made by Chicago-based derivatives exchange CME Group regarding their plans to introduce real-time indices and reference rates for our cryptocurrency in partnership with CF Benchmarks.
According to Garlinghouse, establishing a reliable benchmark rate is crucial for the development of institutional-grade crypto products. He further stated, “The market’s verdict has been made clear.”
As an analyst, I can express this idea by saying: “The incorporation of XRP into our platform indicates a significant appetite among institutional investors for real-time and dependable price data.”
Apart from XRP, CME Group also launched these products for Internet Computer (ICP).
As a crypto investor, I’ll keep you updated in real time with the latest index figures. Every second, I’ll fetch new data from prominent digital asset trading platforms like Coinbase, Bitstamp, and Kraken based on their order book activity.
Daily benchmark prices of the aforementioned cryptocurrencies will be provided at 4 p.m. UTC.
Back in 2016, CME first revealed plans to introduce real-time Bitcoin indices and rates.
I have expanded our offerings to include products based on Ethereum, Algorand, Avalanche, Bitcoin Cash, Cardano, Chainlink, Litecoin, Stellar Lumens, Uniswap, and various other altcoins since then.
An XRP ETF?
There has been a lot of speculation about whether an XRP ETF could be launched in the near future.
According to U.Today’s report, Garlinghouse had asserted beforehand that a XRP Exchange-Traded Fund (ETF) was all but certain.
Last month, VanEck and 21Shares filed applications to launch spot Solana ETFs.
During the coming month of July, it is anticipated that Ethereum exchange-traded funds (ETFs) will become available for purchase. Several potential issuers have submitted their registration forms (S-1 forms) in recent times.
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2024-07-12 08:30