CME’s XRP Futures Off to a Strong Start with $1.5M in Day-One Volume

XRP Futures Begin Trading on CME, Signaling Growing Institutional Interest

XRP made its entrance into the U.S. regulated derivatives market Monday with the launch of futures trading on the Chicago Mercantile Exchange (CME), recording over $1.5 million in notional volume on its opening day.

Initial trading data from CME indicated that 4 standard contracts (each representing 50,000 XRP) were exchanged, totaling roughly $480,000 in volume at an average settlement price of $2.40. Additionally, 106 micro contracts (2,500 XRP each) were traded, contributing more than $1 million to the day’s volume.

Both standard and micro contracts are cash-settled and benchmarked to the CME CF XRP-Dollar Reference Rate, which captures a once-daily snapshot of XRP pricing at 4:00 p.m. London time. The tiered contract offering is designed to appeal to a range of participants—from institutions to active retail traders—by providing scalable exposure and hedging tools.

Ripple CEO Brad Garlinghouse hailed the listing as “a milestone for institutional adoption,” noting that Hidden Road facilitated the first block trade. The launch follows the CFTC’s classification of XRP as a commodity, clearing regulatory hurdles for futures trading.

Market observers say the development may accelerate momentum toward a spot XRP ETF, echoing trends seen with bitcoin and ether ETFs following the launch of regulated futures.

“Now that CME is offering XRP futures, a spot ETF becomes a more credible proposition,” said ETF Store’s Nate Geraci.

While the debut volumes were modest relative to BTC or ETH futures launches, analysts argue that XRP’s presence on CME strengthens its price discovery profile and opens the door for broader institutional engagement.