The launch of XRP futures on the Chicago Mercantile Exchange (CME) has marked a significant event for the cryptocurrency market, generating heightened interest among investors, even as the ETF approval question remains open.
Successful Launch of XRP Futures
XRP futures officially launched on CME on May 19, featuring both standard contracts of 50,000 XRP and micro contracts of 2,500 XRP. Within the first two days of trading, nearly $30 million in volume was recorded, indicating strong interest from institutional investors.
ETF Approval Prospects
Analysts suggest that the success of XRP futures could serve as a catalyst for the approval of spot ETFs. With more than ten applications pending, including those from Bitwise and CoinShares, hopes for approval remain.
SEC Delays and Market Impact
Amid increased investor interest, the SEC has again delayed its decisions on ETFs from CoinShares and Bitwise, setting new deadlines for August 2025. This creates additional uncertainty in the market.
The launch of XRP futures at CME has ushered in a new level of interest and optimism among crypto investors despite ongoing SEC delays regarding ETF approvals. However, the successful commencement of futures trading may bolster arguments for their timely approval.
