Since their launch on May 19, XRP futures have shown significant interest from both institutions and retail traders, as evidenced by high trading volumes.
Initial Results and Volume Growth
The XRP and Micro XRP futures launched by CME Group debuted with a trading volume of $19 million on their first day. In the first month, trading volume spiked 28 times, reflecting a growing demand for these instruments.
International Participation and Infrastructure
According to CME, around half of the trading activity occurred outside the US and Canada, indicating strong international participation. The futures are offered in standard and micro contracts, sized at 50,000 XRP and 2,500 XRP respectively.
Market Prospects and Impact
The rollout of XRP futures is seen as a significant step towards the approval of cryptocurrency exchange-traded funds. Bloomberg analysts estimate a 95% chance of XRP ETFs being approved in 2025. Simultaneously, XRP prices have increased by 5.3% in the last 24 hours.
XRP futures have attracted extraordinary interest from traders and investors, highlighting the growing popularity of the asset and promising prospects.
