CME Executive Highlights Progress Toward XRP ETF Launch

According to Odaily, Tim McCourt, Senior Managing Director at CME Group, stated that a significant step has been taken towards the launch of an XRP ETF. CME has established an XRP reference rate and real-time index, which are crucial components in building this ecosystem. These tools include over 50 real-time prices and reference rates, providing a fully regulated benchmark for product providers like Bitwise. This development is essential for companies as it offers a reliable reference point for their financial products. A week ago, the U.S. Securities and Exchange Commission received an XRP ETF application from Canary Capital, making it the second provider to apply for an XRP ETF after Bitwise Asset Management.