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Chicago Mercantile Exchange (CME) Group and CF Benchmarks are set to introduce new reference rates and real-time indices for Ripple (XRP) and Internet Computer (ICP), commencing on July 29.
As per a July 11 announcement from the CME Group, CF Benchmarks will issue these new indices on a daily basis to provide precise and dependable pricing information for Ripple and Internet Computer to a wide array of market participants.
CME to Introduce Indices for XRP and ICP
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The new benchmarks will utilize pricing data from leading cryptocurrency exchanges and trading platforms that are part of the CME CF Benchmark suite. Each benchmark will be computed using data from a minimum of two of these exchanges.
𝐓𝐇𝐄 𝐍𝐄𝐖 𝐗𝐑𝐏 𝐄𝐓𝐅
#xrp #ripple #btcXRP ETF: CME Group Incorporates XRP Reference Rate.
The introduction of XRP reference rates by CME Group has sparked speculation regarding a possible XRP ETF, as analysts emphasize its importance for regulatory endorsement.

The Chicago Mercantile…— Will Fix (@WillFix7) July 11, 2024
The exchanges supplying the pricing data include Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital.
“These new benchmarks are intended to deliver clear and transparent pricing data to a wide range of market participants, enabling them to more accurately assess portfolios or develop structured products,” stated CME Group Global Head of Cryptocurrency Products Giovanni Vicioso.
Sui Chung, CEO of CF Benchmarks, noted that the new reference rates and indices will adhere to the same stringent standards as other benchmarks in the CME CF Single Asset Series. This will ensure clients’ trust when dealing with these new assets.
Possible Regulated Bitcoin Trading Services
In May, CME was reportedly in discussions with cryptocurrency traders regarding the establishment of a regulated marketplace for Bitcoin trading.
If completed, CME’s Bitcoin trading platform could be launched via EBS, a Swiss currency trading platform recognized for its stringent crypto regulations. This addition would enhance CME’s current Bitcoin futures and enable “basis trades” for investors.
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