CME Group Rejects Meme Coins, Focuses on High-Utility Crypto Derivatives

CME Group (NASDAQ: CME), the world’s largest derivatives exchange, is distancing itself from meme coins like Dogecoin (DOGE) and Trump Coin (TRUMP), even as asset managers such as VanEck and 21Shares pursue spot exchange-traded products (ETPs) tied to these speculative tokens.

Gio Vicioso, CME’s global head of cryptocurrency products, emphasized the exchange’s focus on crypto assets with real-world utility. “We're launching products based on tokens that have a use case,” he said, adding that meme coins lack the foundational utility CME looks for in its offerings.

Instead, CME is expanding its crypto derivatives lineup with tokens that play core roles in blockchain ecosystems. Recent additions include Solana (SOL) and XRP, complementing CME’s existing Bitcoin (BTC) and Ethereum (ETH) futures. This approach has delivered strong early results. SOL futures have reached nearly $5 billion in trading volume since their February launch, with average daily volume ranging from $75 million to $100 million. XRP futures, which debuted in May, hit a record $235 million in daily volume last Friday and have surpassed $2 billion in cumulative trades.

CME’s crypto products operate on a weekly schedule — Sunday 6 p.m. to Friday 5 p.m. ET — with a one-hour daily maintenance break. This contrasts with the 24/7 nature of spot crypto markets, which traditional U.S. exchanges like Nasdaq and NYSE are starting to emulate to capture crypto-native traders.

While CME is monitoring the trend toward always-on trading, it has not committed to adopting a 24/7 model yet. “It’s something we’re exploring,” Vicioso noted, “but we’ll continue evaluating as the market matures and demand grows.”