SINGAPORE – Institutional investors are quickly embracing CME’s futures for XRP (XRP) and solana (SOL), both launched earlier this year, alongside steady growth in bitcoin (BTC) and ether (ETH) derivatives, according to Tim McCourt, the exchange’s Global Head of Equity & FX Products.

Speaking at the ongoing Token2049 conference attended by CoinDesk, McCourt stated that total crypto futures open interest, a key indicator of institutional activity, has doubled year-over-year, now reaching $30 to $35 billion daily. Importantly, this growth isn’t driven solely by bitcoin.

CME’s cash-settled futures have long served as a go-to for institutions wanting exposure to cryptocurrencies through regulated products, without having to own the tokens directly. Futures contracts are standardized, legally

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