XRP Futures Make Quiet Yet Significant Debut on CME with $1.5M in Volume
The CME Group officially launched XRP futures on May 19, registering a total of approximately $1.5 million in first-day trading volume. Though modest, the debut marks a pivotal moment for institutional access to the popular cryptocurrency.
According to early CME data, 4 standard contracts—each tied to 50,000 XRP—were traded, totaling around $480,000 in volume. The bulk of activity came from 106 micro contracts (2,500 XRP each), accounting for over $1 million in notional value.
Both contract types are cash-settled and priced using the CME CF XRP-Dollar Reference Rate, published daily at 4:00 p.m. London time. This launch follows XRP’s classification as a commodity by the CFTC, clearing the way for the listing.
Ripple CEO Brad Garlinghouse celebrated the milestone on social media, revealing that Hidden Road executed the first block trade. Industry commentators see the move as a potential stepping stone toward a spot XRP ETF, still under regulatory review.
“CME-traded XRP futures are now live,” ETF Store president Nate Geraci wrote on X. “Spot XRP ETFs only a matter of time.”
Analysts note that while day-one volumes lag behind earlier launches like bitcoin and ether, the listing expands XRP’s price discovery mechanisms and could bolster institutional adoption over time.
