Recent developments in the cryptocurrency market related to XRP have shown a significant increase in interest from institutional investors and a new level of regulation.
XRP Futures Set New Record
The XRP futures market at CME recorded its highest trading volume on July 11, with over $235 million changing hands. Since its launch on May 19, total trading volume has surpassed $1.6 billion. The standard contract is based on 50,000 XRP, while the micro version covers 2,500 coins.
Rising Institutional Interest
CME is becoming a key exchange for investors seeking exposure to cryptocurrencies through regulated markets. Current data indicate a steady increase in the use of XRP futures among traders. According to CME's Active Trader account, over 9,100 contracts were traded on July 11, equating to more than 82 million XRP.
First U.S. ETFs on XRP
In addition to XRP futures, other regulated products are gaining popularity. On July 14, 3iQ reported that its XRP ETF listed on Canada’s TSX surpassed $50 million in assets. The SEC has also approved the launch of the ProShares Ultra XRP ETF, which will be the first U.S.-listed ETF on XRP and will begin trading on NYSE Arca.
The latest achievements of XRP in the futures market and the upcoming launch of the first U.S. ETF underscore the growing interest from institutional investors and the need for regulated products that strengthen the position of cryptocurrencies.
