The XRP Futures contracts began trading with CME Group’s derivative platform on May 19 and recorded at least 1.5 million dollars in trade volume during the first session, a modest but remarkable debut for the big token.

CME data shows 4 standard contracts (each represents 50,000 XRP) traded on the first day, a total of about $ 480,000 in nominal volume at an average price of $ 2.40. The majority of the activity came from 106 microcontracts (2,500 XRP each), which accounts for over $ 1 million in additional volume.

The contracts are cash-related and benchmarks for CME CF XRP dollar reference, which is published daily at. 16.00 London Time. CME’s double contract structure is designed to attract both institutional players and smaller participants and offers flexibility to various coverage and trading strategies.

“The launch of regulated XRP futures at @cmegroup marks an important institutional milestone for XRP,” Ripple CEO Brad Garlinghouse, which was sent on x Monday. He added that Hidden Road performed the first block trade.

The list follows CFTC’s classification of XRP as a commodity, a regulatory green light that cleared the way for CME to offer these products.

Analysts say the debut could also strengthen the case for a place XRP ETF, where ETF store president Nate Geraci says such a product is “only a matter of time.”

While early volumes may appear modest, XRP’s recording at CME is expanding the market dynamics of the great token in terms of price discovery, similar to how price action on BTC and ETH Futures is affected when the US market opens.