CME’s newly launched XRP futures contracts are attracting solid institutional interest, boosting optimism for the approval of a U.S.-listed spot XRP ETF as XRP strengthens its foothold in regulated markets.
According to trading data, XRP futures saw notional volumes surpassing $19 million on their first day of trading, followed by $10 million more on Tuesday.
The first-ever trade—a block transaction—was cleared by Hidden Road on May 18. CME offers two types of XRP futures contracts: standard contracts representing 50,000 XRP and micro contracts covering 2,500 XRP. Both contract types are cash-settled and linked to the CME CF XRP-Dollar Reference Rate, calculated daily at 15:00 UTC.
On Monday, trading volumes hit 7.5 million XRP in standard contracts and 517,000 XRP in micro contracts, with Tuesday’s figures showing 2.95 million XRP and at least 1.2 million XRP, respectively.
This strong institutional demand for regulated XRP futures is being seen as a critical milestone toward the eventual launch of a spot XRP ETF in the U.S.
“Approval of spot XRP ETFs is inevitable,” said Nate Geraci, President of the ETF Store, via social media.
Despite the robust futures market activity, XRP’s spot price remained relatively flat around $2.38, inching up 0.42% in the last 24 hours.
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