Ah, the Chicago Mercantile Exchange, that grand bastion of financial wizardry, has whispered sweet nothings about the impending arrival of SOL (not the sun, dear reader) and XRP futures contracts, poised to make their debut as early as the 10th of February—pending, of course, the ever-elusive regulatory review. One can only hope the regulators are not too busy sipping tea and contemplating the mysteries of the universe! ☕️
In a delightful twist of fate, the CME’s website, which has since decided to play hide-and-seek with this information, revealed that contracts for these digital darlings will be available in both standard and micro sizes. The standard SOL contract boasts a robust 500 SOL lot size, while the micro-contract, for those with a penchant for the petite, accounts for a mere 25 SOL. How charmingly diminutive! 🌱
As for XRP, the standard-size futures contracts will feature a staggering lot size of 50,000 XRP, because why not? And for those who prefer to dabble in the micro realm, there exists a 2,500 XRP lot size. All contracts, in a fit of practicality, will settle in the ever-reliable US dollars. Because who needs cryptocurrency when you can have good old-fashioned fiat? 💸
Gensler’s Departure: A Comedy of Applications for Crypto Financial Products
In a scene reminiscent of a Shakespearean farce, financial firms have unleashed a veritable torrent of applications for crypto investment vehicles, all in anticipation of Gary Gensler’s final bow as the head of the SEC. One can only imagine the confetti raining down in celebration of a friendlier regulatory climate! 🎉
On the 15th of January, the asset manager VanEck, in a fit of enthusiasm, applied for its Onchain Economy ETF. This fund, in a rather ironic twist, will invest in “digital transformation companies” and digital asset instruments, but will not hold crypto directly. Because who needs to actually own the thing when you can just admire it from afar? 🧐
According to VanEck, these digital transformation companies include a motley crew of software developers, mining companies, crypto exchanges, infrastructure builders, and payment firms. Quite the eclectic mix, wouldn’t you agree? 🎭
Meanwhile, the financial services company ProShares, in a moment of sheer brilliance, filed for a Solana futures ETF on the 17th of January. One can only wonder at the sheer audacity of it all, given the current absence of SOL futures contracts on the CME. How delightfully cheeky! 😏
In a further twist of fate, WisdomTree, that ever-ambitious asset manager, applied for an XRP ETF back in December 2024, making it the fourth firm to join this merry bandwagon. Other notable players in this game of crypto musical chairs include Bitwise, 21Shares, and Canary Capital. It’s a veritable soirée of financial innovation! 🎊
WisdomTree’s proposed XRP ETF, in a nod to tradition, would initially settle in US dollars. However, should the SEC grant its blessing, future iterations of the ETF could include in-kind settlement mechanisms. Because who doesn’t love a little unpredictability in their financial instruments? 🎢
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2025-01-23 00:28