Chicago-based derivatives behemoth CME Group has introduced round-the-clock trading for a plethora of its cryptocurrency futures and options contracts, including the ones that track the value of the Ripple-linked XRP cryptocurrency and Cardano (ADA).
The rollout addresses a persistent mismatch between traditional hours and blockchain networks that are operational 24/7. Starting from this Friday, institutional traders can now trade cryptocurrency derivatives around the clock. There will be only a brief weekend maintenance pause of at least two hours.
This, of course, gives altcoins a major boost. Alongside XRP and ADA, the list of other altcoins that will benefit from this inclusion includes Solana (SOL), Chainlink (LINK), Stellar (XLM), Avalanche (AVAX), Sui (SUI), and others.
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The game changer
Institutional investors will be able to mitigate risks with the launch of the new product.
Earlier, they could be caught off guard by sudden bouts of volatility that take place off-hours. Weekend price gaps can now be hedged immediately.
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CME has already introduced a slew of cryptocurrency futures products.
XRP futures contracts, for instance, had already established deep institutional liquidity on the platform. They have pulled in staggering $62.87 billion in notional trading volume over the past year.
CME Group previously reported that its cryptocurrency product suite had experienced significant year-over-year growth, with total average daily volume (ADV) rising from 191,000 to 310,000 contracts traded.
The derivatives titan’s entire crypto product suite crossed $7.3 trillion in total notional volume, according to its Q1 report.