The era when the cryptocurrency sector was considered a market with only two assets (Bitcoin and Ethereum) is officially over. The CME Group, the world's largest derivatives marketplace, announced on 15 January plans to launch futures contracts on Cardano (ADA), Chainlink (LINK) and Stellar (XLM) as of 9 February next, subject to regulatory review.
This move represents a calculated signal from the Chicago giant: the market for digital assets has now matured, overcoming the gravitational pull of BTC and ETH to become a diversified and risk-managed asset class.
A two-tier structure for institutions and retail
The expansion introduces a deliberate two-tier structure designed to capture both institutional heavyweights and active retail traders. Contracts will be available in standard and micro sizes:
- Cardano (ADA): 100,000 ADA (standard) and 10,000 ADA (micro).
- Chainlink (LINK): 5,000 LINK (standard) and 250 LINK (micro).
- Stellar (XLM): 250,000 XLM (standard) and 12,500 XLM (micro).
Adding its 'blue-chip' rails to these three assets, the CME says its risk transfer infrastructure is ready to handle a broad spectrum of blockchain utilities, from smart contract platforms to middleware and payments.
Numbers of the record 2025
The main driver of this expansion lies in the extraordinary results achieved by the crypto desk of the CME in 2025. Last year, the exchange experienced record activity, with an average daily volume (ADV) of 278,300 contracts, representing approximately $12 billion in notional value traded each day.
Even more significant for institutional adoption is the average Open Interest (OI), which stood at 313,900 contracts (approximately $26.4 billion). This data suggests that cryptos are no longer a niche experiment, but a solid component in the construction of global portfolios.
The growth has been driven primarily by the 'micro' suite. During the volatility spike of 21 November 2025, the complex reached an all-time high of 794,903 daily contracts, of which as many as 676,088 came from the micro suite.
The "playbook" of degree for digital assets
The CME is not proceeding blindly. The exchange has developed a proven model to 'graduate' digital assets into the regulated sphere, as it did with Solana (SOL) and XRP in 2025. By mid-September last year, over 540,000 futures on Solana had already been traded, worth $22.3 billion.
The choice of ADA, LINK and XLM reflects the new institutional categorisation:
- Cardano: Exposure to smart contracts alternative to Ethereum.
- Chainlink: "Infrastructural Beta", i.e. a proxy for middleware oracle networks.
- Stellar: Asset linked to cross-border payments and tokenized cash.
The catalyst for ETFs
The strategic weight of the CME's move was confirmed almost immediately by the market. Ahead of its February debut, ProShares has already filed documents for six new ETFs linked to these assets, including leveraged products such as the ProShares Ultra Cardano ETF.
The filings indicate 31 March as the effective date, suggesting an orchestrated sequence: CME futures will set liquidity and reference pricing in February, paving the way for the launch of structured retail products some seven weeks later.
Perspectives of success
The real test for ADA, LINK and XLM will be the persistence of open interest and the strength of spreads. Based on the daily notional value of $12 billion in 2025, a market share of 1.5 per cent (the 'breakout' scenario) would result in approximately $180 million per day, definitively sanctioning the entry of these altcoins into the regulated mainstream financial landscape.
