Robust institutional demand for CME’s newly launched XRP futures contracts is reigniting optimism around a U.S.-listed spot XRP ETF as the token gains momentum in regulated markets.
Data reveals that on its first day, XRP futures on the Chicago Mercantile Exchange (CME) saw over $19 million in notional trading volume, followed by at least $10 million on Tuesday.
The initial trade—a block transaction—was cleared by Hidden Road on May 18. CME offers two types of XRP futures: standard contracts representing 50,000 XRP and micro contracts covering 2,500 XRP. Both are cash-settled and tied to the CME CF XRP-Dollar Reference Rate, which is calculated daily at 15:00 UTC.
Standard contracts accounted for 7.5 million XRP traded on Monday and 2.95 million XRP on Tuesday, while micro contracts traded 517,000 XRP on Monday and at least 1.2 million XRP on Tuesday.
Industry insiders view the launch of these regulated futures as a crucial milestone toward securing approval for a spot XRP ETF in the U.S.
“Spot XRP ETFs are only a matter of time,” stated Nate Geraci, President of the ETF Store, in a recent social media post.
Despite the strong futures activity, XRP’s spot price remained steady, hovering around $2.38 with a modest 0.42% gain over the past 24 hours.
