CME Group Expands Crypto Futures but Excludes Memecoins Over Lack of Use Case
CME Group, the world’s largest derivatives exchange, is broadening its lineup of cryptocurrency futures but is steering clear of memecoins, citing their lack of practical utility.
While firms like VanEck and 21Shares push to launch spot exchange-traded products (ETPs) for speculative tokens such as dogecoin (DOGE) and Trump Coin (TRUMP), CME is focusing on cryptocurrencies with real-world applications.
“We build our products around coins and tokens that have clear use cases, so we don’t expect to offer anything in the memecoin space,” said Gio Vicioso, CME’s global head of cryptocurrency products.
In recent months, CME has added futures for solana (SOL) and XRP (XRP), joining their existing bitcoin (BTC) and ethereum (ETH) offerings. This strategy is showing results: since its debut in February, SOL futures have traded nearly $5 billion in volume, with daily averages between $75 million and $100 million. XRP futures, launched in May, recorded a record $235 million volume last Friday and have topped $2 billion in total volume.
CME futures trade on a weekly schedule—from Sunday 6 p.m. ET to Friday 5 p.m. ET—with a daily one-hour maintenance break. This contrasts with the nonstop 24/7 trading common in spot crypto markets, which some U.S. stock exchanges like Nasdaq and NYSE are adapting to serve crypto traders better.
Although CME has no immediate plans to move to 24/7 trading, it is actively considering the possibility. “We’re monitoring developments and exploring options to close the weekend trading gap as interest in our products grows,” Vicioso said.
