The introduction of CME’s XRP futures has pulled in about $30 million, strengthening the case for an XRP ETF.

CME’s newly launched XRP futures contracts are attracting notable institutional activity, boosting optimism around the potential launch of a U.S.-listed spot XRP ETF as the token gains regulated market acceptance.

Trading data reveals that XRP futures hit over $19 million in notional volume on their first day, followed by another $10 million on Tuesday.

The debut transaction, a large block trade cleared by Hidden Road on May 18, initiated trading in two contract sizes: the standard contract, representing 50,000 XRP, and the micro contract, representing 2,500 XRP. Both contracts are cash-settled and tied to the CME CF XRP-Dollar Reference Rate, updated daily at 15:00 UTC.

Standard contracts saw 7.5 million XRP traded on Monday and 2.95 million XRP on Tuesday, while micro contracts recorded 517,000 XRP and 1.2 million XRP in volume, respectively.

Industry insiders view the strong start for XRP futures as a critical milestone toward gaining regulatory approval for a spot XRP ETF in the U.S.

“Approval of spot XRP ETFs is only a matter of time,” said Nate Geraci, President of the ETF Store, in a recent social media post.

Meanwhile, XRP’s spot price remained relatively stable near $2.38, edging up by 0.42% over the last 24 hours.