The Chicago Mercantile Exchange (CME) Group has quickly dispelled rumors of imminent XRP and Solana futures contracts after a brief and erroneous display on a beta version of its website. While the incident caused a momentary stir in the crypto market, it ultimately fueled speculation about the potential for exchange-traded funds (ETFs) for these assets.

The initial leak, showcasing contract details and a tentative February 10th launch date, sent ripples through the crypto community. However, CME swiftly clarified that the information was a technical error, part of a testing phase, and not indicative of any official plans.

Focus Shifts to ETF Approvals

While futures remain uncertain, the episode reignited discussions around XRP and Solana ETFs. With several applications pending before the Securities and Exchange Commission (SEC), the crypto industry is eagerly awaiting regulatory decisions.

“The increased interest in cryptocurrency futures, even if speculative, underscores the growing demand for regulated crypto products,” commented Nate Geraci, President of the ETF Store.

Market Reaction and Outlook

The initial news sent both XRP and Solana prices slightly lower. However, the clarification from CME appears to have stabilized the market.

Observers note that the number of ETF applications has surged since the departure of former SEC Chair Gary Gensler, suggesting a potential shift in regulatory sentiment.

The crypto industry is currently navigating a period of uncertainty amidst a potential change in US political leadership. While the future of XRP and Solana futures remains unclear, the growing interest in ETFs and the evolving regulatory landscape suggest a period of dynamic change for the crypto market.

Also read: Memecoin-Based ETFs Gaining Traction Under New SEC Leadership