- CME’s newly launched XRP futures have quickly reached nearly $30 million in trading volume, signaling strong institutional interest.
- A surge in trading is reigniting hopes that regulators will soon approve a spot XRP ETF in the U.S.
XRP futures trading on the Chicago Mercantile Exchange (CME) has made a powerful entrance, hitting nearly $30 million in volume just days after launch. This rapid uptake is renewing excitement among investors and analysts about the possibility of a U.S.-listed spot XRP ETF finally arriving on the market.
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A Strong Start for CME XRP Futures
CME introduced XRP futures contracts this week, offering two contract sizes: standard contracts of 50,000 XRP and micro contracts of 2,500 XRP. Both are cash-settled and benchmarked to the CME CF XRP-Dollar Reference Rate, which is calculated daily at 15:00 UTC and used for settling contracts.
On their debut day, the futures racked up over $19 million in notional volume, with a large initial block trade cleared by digital asset prime broker Hidden Road on May 18. The momentum continued on the second day, adding another $10 million in trading activity.
Breaking down the trading figures reveals a strong preference for both contract types. Standard futures recorded 7.5 million XRP traded on day one and 2.95 million XRP on day two. Meanwhile, micro contracts traded 517,000 XRP on Monday, more than doubling to 1.2 million XRP the following day.
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What This Means for XRP and the ETF Market
The launch of regulated XRP futures on CME, a major and highly trusted exchange, is seen by many as more than just a new product—it’s a potential gateway to broader institutional adoption of XRP. Futures contracts can serve as a precursor to spot ETFs by demonstrating regulatory acceptance and investor demand.
Nate Geraci, President of the ETF Store, captured the growing sentiment perfectly, tweeting that a spot XRP ETF is “only a matter of time.” The institutional appetite for XRP exposure through regulated channels is becoming more apparent, reviving optimism that an XRP ETF listing in the U.S. could be on the horizon.
CME-traded XRP futures are now *live*…
CFTC-regulated contracts on XRP.
Spot XRP ETFs only a matter of time. pic.twitter.com/MOhHtoGWbs
— Nate Geraci (@NateGeraci) May 19, 2025
Looking Ahead: XRP’s Evolving Ecosystem
This surge in futures trading volume coincides with exciting developments on the XRP Ledger front. Projects involving an EVM sidechain, smart contracts, and partnerships like the one with Axelar are positioning XRP for broader utility and integration in the decentralized finance space.
As CME’s XRP futures gain traction, these technological advances and increasing regulatory acceptance could collectively pave the way for the much-anticipated spot XRP ETF, potentially opening doors to new investor classes and further price discovery.
In summary, CME’s XRP futures are off to a remarkable start, with nearly $30 million in volume signaling strong institutional interest. This milestone not only marks an important moment for XRP trading but also fuels speculation that a spot XRP ETF is closer than ever to launch.
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