The XRP Futures contracts on Chicago Mercantile Exchange (CME) recorded over $ 19 million in the nominal trade volume on their first day and at least $ 10 million on Tuesday, data shows.
The initial trade, a block transaction, was cleared off Hidden Road on May 18. CME’s XRP futures are available in two sizes: Standard contracts representing 50,000 XRP and micro contracts representing 2,500 XRP. Both are cash-fought and benchmark for CME CF XRP dollar reference, calculated daily at. 15:00 UTC.
Standard contracts lowered a volume of 7.5 million XRP Monday and 2.95 million XRP on Tuesday, while microcontracts made 517,000 XRP Monday and at least 1.2 million XRP on Tuesday.
Market participants see the launch of these regulated futures contracts as a step towards the potential approval of a Spot XRP Exchange-Traded Fund (ETF) in the United States.
“SPOT XRP ETFs only a matter of time,” Nate Geraci, president of the ETF store, said in an X post on Monday.
Despite the strong debut of the future contracts, XRP’s spot price remained relatively stable and traded about $ 2.38 with a slight increase of 0.42% over the last 24 hours.
