The Menlo Park, California-headquartered zero-commission trading platform Robinhood has announced the launch of micro XRP and Solana futures.
These are micro versions of standard cash-settled contracts offered by Chicago-based derivatives behemoth CME Group.
Micro XRP futures represent 2,500 XRP per contract (roughly $5,200 at press time).
As reported by U.Today, the Chicago-based derivatives giant launched its XRP futures in May, paving the way for the eventual approval of spot-based XRP ETFs. They managed to attract $542 million in notional monthly volume, which shows rather robust institutional demand. Earlier this year, CME also rolled out regulated futures for SOL.
Robinhood officially introduced futures trading in October alongside the rollout of index options. The popular trading platform initially supported oil, the widely tracked S&P 500 stock market index, and other futures.
In January, CME Group announced a partnership with Robinhood that brought some of its widely traded futures products to the latter’s mobile app.
Robinhood added support for XRP, Pepe (PEPE), and several other tokens to its platform in November, significantly expanding the list of its offerings due to the change in regulatory climate in the U.S.
In February, the U.S. Securities and Exchange Commission (SEC) wrapped up its investigation of Robinhood after eight months. Expectedly, the SEC decided not to bring any enforcement action against the company in line with its pro-crypto pivot. As reported by U.Today, Robinhood CEO Dan Gallagher claimed that the SEC did not have to start the investigation in the first place.
