XRP Futures Begin Trading on the CME Exchange

CME Launches First Regulated XRP Futures in U.S., Spot XRP ETFs Seen as Next Step

The Chicago Mercantile Exchange (CME) kicked off trading of XRP futures contracts on Monday, becoming the first regulated U.S. platform to offer futures linked to the price of XRP.

Two contract sizes are available for trading: 2,500 XRP and 50,000 XRP. Both contracts are cash-settled and reference the CME CF XRP-Dollar Reference Rate, which calculates the daily price of XRP at 4 p.m. London time.

CME’s existing derivatives suite includes futures for bitcoin (BTC), ethereum (ETH), and solana (SOL), along with options on bitcoin and ethereum. Since the launch of solana futures in March, daily volumes have been modest, with the initial day recording $12.3 million in notional volume and $7.8 million in open interest—figures notably lower than those seen at the launches of bitcoin and ethereum futures.

Over the past 24 hours, XRP’s price declined by 3.45%.

The debut of regulated XRP futures is widely viewed as an important advancement toward the approval of spot XRP exchange-traded funds (ETFs) in the U.S., which remain under consideration by the Securities and Exchange Commission (SEC). Several fund issuers have submitted filings for spot XRP ETFs, but no approvals have yet been granted.

“XRP futures are now live on CME, regulated by the CFTC,” said Nate Geraci, President of ETF Store, on social media. “This development brings spot XRP ETFs closer to reality.”

During the tenure of former SEC Chair Gary Gensler, one of the reasons cited for approving spot bitcoin and ethereum ETFs was the existence of regulated futures markets for those assets. The CME’s launch of XRP futures may similarly influence the SEC’s stance on spot XRP ETFs.


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